SoundHound AI (NASDAQ:SOUN - Get Free Report) released its earnings results on Thursday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02, Briefing.com reports. The firm had revenue of $11.59 million for the quarter, compared to analyst estimates of $10.10 million. SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 1,955.68%. The business's quarterly revenue was up 72.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. SoundHound AI updated its FY 2024 guidance to EPS.
SoundHound AI Trading Up 7.2 %
NASDAQ SOUN traded up $0.34 on Friday, reaching $5.09. The company had a trading volume of 88,039,686 shares, compared to its average volume of 50,295,289. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -14.08 and a beta of 2.87. The company has a debt-to-equity ratio of 6.03, a current ratio of 4.69 and a quick ratio of 4.69. SoundHound AI has a fifty-two week low of $1.49 and a fifty-two week high of $10.25. The business has a 50 day moving average of $5.41 and a two-hundred day moving average of $3.39.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. LADENBURG THALM/SH SH initiated coverage on SoundHound AI in a research note on Tuesday, January 30th. They set a "buy" rating and a $4.00 target price for the company. Wedbush reiterated an "outperform" rating and set a $9.00 price objective on shares of SoundHound AI in a research report on Friday. Northland Securities restated a "market perform" rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Cantor Fitzgerald upgraded SoundHound AI from an "underweight" rating to a "neutral" rating and set a $4.90 price target for the company in a research note on Thursday, April 11th. Finally, DA Davidson raised their price objective on SoundHound AI from $7.50 to $9.50 and gave the company a "buy" rating in a report on Friday, March 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, SoundHound AI has an average rating of "Moderate Buy" and an average price target of $6.88.
Check Out Our Latest Stock Analysis on SOUN
Insiders Place Their Bets
In other news, CEO Keyvan Mohajer sold 107,927 shares of the firm's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $3.70, for a total transaction of $399,329.90. Following the completion of the transaction, the chief executive officer now directly owns 1,218,712 shares in the company, valued at $4,509,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Keyvan Mohajer sold 107,927 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $3.70, for a total transaction of $399,329.90. Following the completion of the sale, the chief executive officer now directly owns 1,218,712 shares in the company, valued at $4,509,234.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eric R. Ball sold 50,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the transaction, the director now owns 530,250 shares in the company, valued at approximately $2,651,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 405,057 shares of company stock valued at $2,587,804. 21.30% of the stock is currently owned by company insiders.
About SoundHound AI
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider SoundHound AI, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SoundHound AI wasn't on the list.
While SoundHound AI currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
