Stocks of SoundHound AI Inc. (NASDAQ:SOUN) traded higher last session on Wall Street, up 6.39% to $2.83.
According to the data, SoundHound AI Inc. (NASDAQ:SOUN) has 3 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $7.00 and a low of $2.80, we find $4.50. Given the previous closing price of $2.66, this indicates a potential upside of 69.17 percent. SOUN stock price is now 16.69% away from the 50-day moving average and 12.59% away from the 200-day moving average. The market capitalization of the company currently stands at $644.96M.
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A total of 0 analysts have issued a hold rating and 3 have given it a buy rating. Brokers who have rated the stock have averaged $4.77 as their price target over the next twelve months.
On July 01, 2022, Cantor Fitzgerald recently initiated its ‘Neutral’ rating on the stock quoting a target price of $3, while ‘Wedbush’ rates the stock as ‘Outperform’.
In other news, MARCUS LAWRENCE, Director sold 200,000 shares of the company’s stock on May 15. The stock was sold for $504,600 at an average price of $2.52. Upon completion of the transaction, the Director now directly owns 595,846 shares in the company, valued at $1.69 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 21, Chief Technology Officer STONEHOCKER TIMOTHY sold 3,949 shares of the business’s stock. A total of $9,827 was realized by selling the stock at an average price of $2.49. This leaves the insider owning 1,034,198 shares of the company worth $2.93 million. Insiders disposed of 552,627 shares of company stock worth roughly $1.56 million over the past 1 year. A total of 3.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SOUN stock. A new stake in SoundHound AI Inc. shares was purchased by NO STREET GP LP during the first quarter worth $5,660,000. SUSQUEHANNA INTERNATIONAL GROUP, LLP invested $5,586,000 in shares of SOUN during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in SoundHound AI Inc. valued at approximately $1,695,000. JANE STREET GROUP, LLC acquired a new stake in SOUN for approximately $1,080,000. SASSICAIA CAPITAL ADVISERS LLC purchased a new stake in SOUN valued at around $848,000 in the second quarter. In total, there are 46 active investors with 11.00% ownership of the company’s stock.
During the past 12 months, SoundHound AI Inc. has had a low of $0.93 and a high of $8.73. As of last week, the company has a debt-to-equity ratio of 12.96, a current ratio of 1.30, and a quick ratio of 1.30. The fifty day moving average price for SOUN is $2.4300 and a two-hundred day moving average price translates $2.5080 for the stock.
The latest earnings results from SoundHound AI Inc. (NASDAQ: SOUN) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at -$0.13, missing analysts’ expectations of -$0.12 by -0.01. This compares to -$0.36 EPS in the same period last year. The company reported revenue of $6.71 million for the quarter, compared to $4.29 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 56.34 percent. For the current quarter, analysts expect SOUN to generate $8.06M in revenue.
SoundHound AI Inc.(SOUN) Company Profile
SoundHound AI, Inc. develops independent voice artificial intelligence (AI) platform that enables businesses across industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions SoundHound AI, Inc. was founded in 2005 and is headquartered in Santa Clara, California.
