SoundHound AI Inc [SOUN] attracts people because of its fundamentals

SoundHound AI Inc (NASDAQ:SOUN) shares traded -0.45% lower at $2.22 on Wall Street last session.

In accordance with the data, 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 $2.23, this indicates a potential upside of 124.22 percent. SOUN stock price is now 17.51% away from the 50-day moving average and -15.22% away from the 200-day moving average. The market capitalization of the company currently stands at $83.23M.

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It has been rated a hold by 0 analysts and a buy by 5. 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 $2.23 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 $2.25 million. Insiders disposed of 21,132,488 shares of company stock worth roughly $46.91 million over the past 1 year.

SoundHound AI Inc (NASDAQ: SOUN) opened at $2.2700 on Monday. 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 3.47, a current ratio of 5.11, and a quick ratio of 5.11. The fifty day moving average price for SOUN is $1.8892 and a two-hundred day moving average price translates $2.6186 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 -$0.15 EPS in the same period last year. The net profit margin was -261.14% and return on equity was -1716.62% for SOUN. The company reported revenue of $13.27 million for the quarter, compared to $11.19 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.61 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.

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