The stock of SoundHound AI Inc. (NASDAQ:SOUN) last traded at $2.80, up 7.28% from the previous session.
Data from the available sources indicates that SoundHound AI Inc. (NASDAQ:SOUN) is covered by 3 analysts. 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 $2.61, this indicates a potential upside of 72.41 percent. SOUN stock price is now 4.68% away from the 50-day moving average and 13.61% away from the 200-day moving average. The market capitalization of the company currently stands at $615.80M.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
In total, 0 analysts have assigned it 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.
In other news, STONEHOCKER TIMOTHY, Chief Technology Officer sold 3,368 shares of the company’s stock on May 22. The stock was sold for $10,575 at an average price of $3.14. Upon completion of the transaction, the Chief Technology Officer now directly owns 1,034,303 shares in the company, valued at $2.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 15, Director MARCUS LAWRENCE sold 200,000 shares of the business’s stock. A total of $504,600 was realized by selling the stock at an average price of $2.52. This leaves the insider owning 595,846 shares of the company worth $1.67 million. Insiders disposed of 631,576 shares of company stock worth roughly $1.77 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 $5,600,000. SUSQUEHANNA INTERNATIONAL GROUP, LLP invested $5,527,000 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 $1,677,000. JANE STREET GROUP, LLC acquired a new stake in SOUN for approximately $1,069,000. SASSICAIA CAPITAL ADVISERS LLC purchased a new stake in SOUN valued at around $839,000 in the second quarter. In total, there are 46 active investors with 11.00% ownership of the company’s stock.
With an opening price of $2.6300 on Thursday morning, SoundHound AI Inc. (NASDAQ: SOUN) set off the trading day. During the past 12 months, SoundHound AI Inc. has had a low of $0.93 and a high of $5.24. The fifty day moving average price for SOUN is $2.6908 and a two-hundred day moving average price translates $2.4644 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.
