Strs Ohio Buys New Shares in SoundHound AI, Inc. $SOUN

Key Points

• Strs Ohio acquired 48,100 shares of SoundHound AI, Inc. (NASDAQ:SOUN) in Q1, valued at approximately $391,000.
• Wall Street analysts are optimistic about SoundHound AI, with a current average rating of "Moderate Buy" and a price target around $14.36.
• Despite a quarterly revenue increase of 216.3% year-over-year, SoundHound AI reported an EPS of ($0.19), missing analysts' estimates.

Strs Ohio bought a new stake in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 48,100 shares of the company's stock, valued at approximately $391,000.

Other hedge funds have also added to or reduced their stakes in the company. AlphaQuest LLC bought a new position in SoundHound AI in the first quarter valued at $32,000. Golden State Wealth Management LLC grew its position in SoundHound AI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock valued at $34,000 after purchasing an additional 2,115 shares in the last quarter. Sunbelt Securities Inc. grew its position in SoundHound AI by 153.1% in the fourth quarter. Sunbelt Securities Inc. now owns 4,555 shares of the company's stock valued at $90,000 after purchasing an additional 2,755 shares in the last quarter. Quarry LP grew its position in SoundHound AI by 1,552.7% in the first quarter. Quarry LP now owns 5,272 shares of the company's stock valued at $43,000 after purchasing an additional 4,953 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in SoundHound AI by 72.7% in the first quarter. Larson Financial Group LLC now owns 7,027 shares of the company's stock valued at $57,000 after purchasing an additional 2,959 shares in the last quarter. Institutional investors own 19.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SOUN. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price on shares of SoundHound AI in a research report on Wednesday, September 17th. Northland Capmk raised shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 8th. LADENBURG THALM/SH SH raised shares of SoundHound AI from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $9.00 to $16.00 in a research report on Monday, August 11th. Oppenheimer began coverage on shares of SoundHound AI in a research report on Thursday, September 11th. They issued a "market perform" rating for the company. Finally, Wedbush reissued an "outperform" rating and issued a $16.00 price objective on shares of SoundHound AI in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $14.36.

SoundHound AI Stock Performance

NASDAQ SOUN opened at $17.31 on Tuesday. The firm has a 50-day moving average of $13.15 and a 200-day moving average of $10.84. The stock has a market cap of $7.06 billion, a PE ratio of -27.48 and a beta of 2.58. SoundHound AI, Inc. has a 52-week low of $4.45 and a 52-week high of $24.98.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). SoundHound AI had a negative return on equity of 73.13% and a negative net margin of 171.81%.The company had revenue of $42.68 million for the quarter, compared to analyst estimates of $32.88 million. During the same quarter in the prior year, the business posted ($0.11) EPS. The business's quarterly revenue was up 216.3% compared to the same quarter last year. SoundHound AI has set its FY 2025 guidance at EPS. As a group, analysts predict that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.

SoundHound AI Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service 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 Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.

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