SoundHound AI (NASDAQ:SOUN) Trading Up 1.7%

SoundHound AI, Inc. (NASDAQ:SOUN – Get Your Free Report ) rose 1.7% on Friday. The stock traded as high as $4.96 and last traded at $4.92. 2,496,108 shares traded hands during trading, down 93% from the session’s average volume of 38,302,309 shares. Shares previously closed at $4.84.

The Wall Street analyst weighs in

Several analysts have issued reports on SOUN shares. Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $5.00 to $7.00 in a research note on Friday, August 9th . Wedbush restated an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Friday, August 9th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of SoundHound AI in a research report on Monday, August 12th. Finally, Northland Securities upped their target price on shares of SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research report on Friday, 9 August. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.08.

Read the latest stock report on SoundHound AI

SoundHound AI price performance

The company has a fifty day moving average of $4.76 and a 200 day moving average of $4.99. The company has a current ratio of 8.84, a quick ratio of 8.84, and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.61 billion, a PE ratio of -12.87 and a beta of 2.77.

SoundHound AI (NASDAQ:SOUN – Get Your Free Report ) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The firm had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $13.09 million. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The company’s quarterly revenue was up 53.8% compared to the same quarter last year. In the same period last year, the company posted ($0.10) earnings per share. As a group, research analysts predict that SoundHound AI, Inc. will post -0.3 earnings per share for the current year.

Insider buying and selling at SoundHound AI

In related news, CTO Timothy Stonehocker sold 104,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $5.00, for a total value of $520,000.00. Following the sale, the chief technology officer now owns 883,570 shares in the company, valued at $4,417,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO Timothy Stonehocker sold 104,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $5.00, for a total transaction of $520,000.00. Following the completion of the transaction, the chief technology officer now directly owns 883,570 shares in the company, valued at $4,417,850. The transaction was disclosed in a filing with the SEC, which is available via this link. Also, CEO Keyvan Mohajer sold 116,504 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $3.95, for a total value of $460,190.80. Following the completion of the sale, the chief executive officer now directly owns 953,333 shares in the company, valued at approximately $3,765,665.35. The disclosure for this sale can be found here. Insiders have sold a total of 675,728 shares of company stock worth $3,262,476 over the past three months. Company insiders own 21.30% of the company’s shares.

Institutional investors are stepping in on SoundHound AI

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of SoundHound AI by 102.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,840 shares of the company’s stock worth $97,000 after purchasing an additional 23,163 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new position in SoundHound AI in the fourth quarter valued at $42,000. Swiss National Bank boosted its stake in SoundHound AI by 13.9% in the fourth quarter. Swiss National Bank now owns 400,500 shares of the company’s stock valued at $849,000 after acquiring an additional 49,000 shares in the last quarter. Versor Investments LP purchased a new stake in SoundHound AI during the fourth quarter valued at about $128,000. Finally, Independent Advisor Alliance bought a new stake in SoundHound AI during the fourth quarter valued at about $28,000. 19.28% of shares are currently owned by institutional investors.

SoundHound AI Company Profile

(Get a free report)

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enable companies in the automotive, TV and IoT, and customer service industries to deliver high-quality conversational experiences to customers. Its products include the Houndify Platform which provides a suite of Houndify tools to help brands build conversational voice assistants such as Application Programming Interfaces (APIs) for text and voice queries, support for custom commands, extensive library of content domains , including software development kit platforms. , collaboration capabilities, built-in diagnostic and analytics tools; SoundHound Chat AI that integrates with knowledge domains, extracting real-time data such as weather, sports, stocks, flight status and restaurants; and SoundHound Smart Answering is designed to provide customers with a personalized, AI-powered voice assistant.

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