Yarbrough Capital LLC Purchases 133,200 Shares of SoundHound AI, Inc. $SOUN

Key Points

• Yarbrough Capital LLC increased its holdings in SoundHound AI, Inc. by 86.0%, acquiring an additional 133,200 shares, bringing their total to 288,136 shares.
• SoundHound AI's stock has a current market capitalization of $7.36 billion and experienced a significant year-over-year revenue growth of 216.3% despite reporting a net loss.
• Analysts have mixed ratings on SoundHound AI, with a consensus rating of "Moderate Buy" and an average target price of $14.36.

Yarbrough Capital LLC raised its position in SoundHound AI, Inc. (NASDAQ:SOUN - Free Report) by 86.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 288,136 shares of the company's stock after acquiring an additional 133,200 shares during the period. Yarbrough Capital LLC owned approximately 0.07% of SoundHound AI worth $3,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in shares of SoundHound AI by 11.6% during the 1st quarter. Allworth Financial LP now owns 11,062 shares of the company's stock valued at $90,000 after purchasing an additional 1,153 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in SoundHound AI by 8.9% in the first quarter. Integrated Wealth Concepts LLC now owns 14,676 shares of the company's stock worth $119,000 after acquiring an additional 1,201 shares in the last quarter. Amalgamated Bank grew its stake in shares of SoundHound AI by 13.7% during the first quarter. Amalgamated Bank now owns 11,162 shares of the company's stock worth $91,000 after acquiring an additional 1,343 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of SoundHound AI by 7.3% during the first quarter. Janney Montgomery Scott LLC now owns 22,193 shares of the company's stock valued at $180,000 after acquiring an additional 1,502 shares in the last quarter. Finally, Kraematon Investment Advisors Inc. raised its position in shares of SoundHound AI by 8.9% in the 1st quarter. Kraematon Investment Advisors Inc. now owns 19,500 shares of the company's stock valued at $158,000 after purchasing an additional 1,600 shares during the last quarter. 19.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SOUN shares. Piper Sandler restated a "neutral" rating and set a $12.00 price target on shares of SoundHound AI in a research note on Monday, July 14th. Wall Street Zen lowered SoundHound AI from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Oppenheimer began coverage on SoundHound AI in a research report on Thursday, September 11th. They set a "market perform" rating for the company. DA Davidson increased their price objective on SoundHound AI from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Northland Capmk raised SoundHound AI from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, SoundHound AI has a consensus rating of "Moderate Buy" and an average target price of $14.36.

SoundHound AI Stock Performance

SoundHound AI stock opened at $18.05 on Wednesday. The stock has a market capitalization of $7.36 billion, a P/E ratio of -28.65 and a beta of 2.58. The company's fifty day moving average price is $13.28 and its 200 day moving average price is $10.89. SoundHound AI, Inc. has a 1 year low of $4.45 and a 1 year high of $24.98.

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

About SoundHound AI

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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