The price of SoundHound AI Inc (NASDAQ:SOUN) shares last traded on Wall Street fell -2.75% to $1.77.
Based on available information, 5 analysts follow SoundHound AI Inc (NASDAQ:SOUN). 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 $5.00. Given the previous closing price of $1.82, this indicates a potential upside of 174.73 percent. SOUN stock price is now -9.83% away from the 50-day moving average and -32.19% away from the 200-day moving average. The market capitalization of the company currently stands at $66.36M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
Among analysts, 0 rate the stock a hold while 5 rate it a buy. Brokers who have rated the stock have averaged $5.04 as their price target over the next twelve months.
With the price target of $5, DA Davidson recently initiated with Buy rating for SoundHound AI Inc (NASDAQ: SOUN).
In other news, STONEHOCKER TIMOTHY, Chief Technology Officer sold 5,404 shares of the company’s stock on Oct 23. The stock was sold for $9,241 at an average price of $1.71. Upon completion of the transaction, the Chief Technology Officer now directly owns 1,006,531 shares in the company, valued at $1.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 21, Chief Technology Officer STONEHOCKER TIMOTHY sold 14,283 shares of the business’s stock. A total of $27,566 was realized by selling the stock at an average price of $1.93. This leaves the insider owning 1,011,935 shares of the company worth $1.79 million. Insiders disposed of 21,118,205 shares of company stock worth roughly $37.38 million over the past 1 year.
A candlestick chart of SoundHound AI Inc (NASDAQ: SOUN) showed a price of $1.8400 on Wednesday morning. 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 1.90, a current ratio of 4.70, and a quick ratio of 4.70. The fifty day moving average price for SOUN is $1.9630 and a two-hundred day moving average price translates $2.6103 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 net profit margin was -298.53% and return on equity was -496.73% for SOUN. 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 $12.78M 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.
