The stock of SoundHound AI Inc. (NASDAQ:SOUN) last traded at $2.46, down -2.38% from the previous session.
Data from the available sources indicates that SoundHound AI Inc. (NASDAQ:SOUN) is covered by 4 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 $4.00, we find $4.60. Given the previous closing price of $2.52, this indicates a potential upside of 82.54 percent. SOUN stock price is now -15.87% away from the 50-day moving average and -0.26% away from the 200-day moving average. The market capitalization of the company currently stands at $592.15M.
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In total, 0 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $5.05 as their price target over the next twelve months.
With the price target of $5, H.C. Wainwright recently initiated with Buy rating for SoundHound AI Inc. (NASDAQ: SOUN).
In other news, STONEHOCKER TIMOTHY, Chief Technology Officer sold 3,104 shares of the company’s stock on Aug 21. The stock was sold for $7,267 at an average price of $2.34. Upon completion of the transaction, the Chief Technology Officer now directly owns 1,003,760 shares in the company, valued at $2.47 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 21, Chief Technology Officer STONEHOCKER TIMOTHY sold 3,261 shares of the business’s stock. A total of $10,318 was realized by selling the stock at an average price of $3.16. This leaves the insider owning 806,864 shares of the company worth $1.98 million. Insiders disposed of 21,149,758 shares of company stock worth roughly $52.03 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 READYSTATE ASSET MANAGEMENT LP during the first quarter worth $3,074,000. NUVEEN ASSET MANAGEMENT, LLC invested $965,000 in shares of SOUN during the first quarter. In the first quarter, SWISS NATIONAL BANK acquired a new stake in SoundHound AI Inc. valued at approximately $772,000. RAYMOND JAMES & ASSOCIATES acquired a new stake in SOUN for approximately $753,000. TOROSO INVESTMENTS, LLC purchased a new stake in SOUN valued at around $695,000 in the second quarter. In total, there are 90 active investors with 11.00% ownership of the company’s stock.
With an opening price of $2.5300 on Tuesday 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 $5.11. As of last week, the company has a debt-to-equity ratio of 4.83, a current ratio of 4.70, and a quick ratio of 4.70. The fifty day moving average price for SOUN is $2.9000 and a two-hundred day moving average price translates $2.4696 for the stock.
The latest earnings results from SoundHound AI Inc. (NASDAQ: SOUN) was released for Jun, 2023. According to the Software – Application Company, earnings per share came in at -$0.1, beating analysts’ expectations of -$0.11 by 0.01. This compares to -$0.19 EPS in the same period last year. The company reported revenue of $8.75 million for the quarter, compared to $6.15 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 42.25 percent. For the current quarter, analysts expect SOUN to generate $12.69M 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.
