In yesterday’s Wall Street session, SoundHound AI Inc (NASDAQ:SOUN) shares traded at $1.99, up 11.17% from the previous session.
As of this writing, 5 analysts cover 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 $5.00 and a low of $3.60, we find $5.00. Given the previous closing price of $1.79, this indicates a potential upside of 179.33 percent. SOUN stock price is now 3.86% away from the 50-day moving average and -23.89% away from the 200-day moving average. The market capitalization of the company currently stands at $74.61M.
There are 0 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $4.52 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 $2.0 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 $2.01 million. Insiders disposed of 21,132,488 shares of company stock worth roughly $42.05 million over the past 1 year.
Monday morning saw SoundHound AI Inc (NASDAQ: SOUN) opened at $1.7900. 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 $1.9160 and a two-hundred day moving average price translates $2.6146 for the stock.
The latest earnings results from SoundHound AI Inc (NASDAQ: SOUN) was released for Sep, 2023. According to the Software – Application Company, earnings per share came in at -$0.09, inline with analysts’ expectations of -$0.09. This compares to -$0.19 EPS in the same period last year. The net profit margin was -259.44% 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 $17.95M 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.