SoundHound AI (NASDAQ:SOUN) Trading Up 1%

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report)'s share price was up 1% during trading on Thursday . The company traded as high as $4.17 and last traded at $4.05. Approximately 10,853,761 shares changed hands during trading, a decline of 79% from the average daily volume of 52,409,180 shares. The stock had previously closed at $4.01.

Analysts Set New Price Targets

SOUN has been the topic of several recent research reports. HC Wainwright increased their price target on shares of SoundHound AI from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. Northland Securities reiterated a "market perform" rating on shares of SoundHound AI in a report on Wednesday, February 28th. Cantor Fitzgerald raised shares of SoundHound AI from an "underweight" rating to a "neutral" rating and set a $4.90 price objective for the company in a report on Thursday, April 11th. DA Davidson increased their price target on SoundHound AI from $7.50 to $9.50 and gave the company a "buy" rating in a research note on Friday, March 15th. Finally, Wedbush increased their target price on SoundHound AI from $5.00 to $9.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.88.

SoundHound AI Stock Performance

The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 6.03. The stock has a market cap of $1.29 billion, a PE ratio of -10.38 and a beta of 2.75. The business's 50-day moving average price is $5.47 and its 200-day moving average price is $3.19.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $17.10 million for the quarter, compared to analysts' expectations of $17.75 million. SoundHound AI had a negative return on equity of 1,955.68% and a negative net margin of 188.57%. The firm's revenue for the quarter was up 80.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) EPS. As a group, equities research analysts expect that SoundHound AI, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at SoundHound AI

In related 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 sale, the chief executive officer now directly owns 1,218,712 shares of the company's stock, valued at $4,509,234.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Keyvan Mohajer sold 107,927 shares of the firm's 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 sale, the chief executive officer now owns 1,218,712 shares in the company, valued at $4,509,234.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lawrence Marcus sold 50,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $7.00, for a total transaction of $350,000.00. Following the sale, the director now directly owns 333,117 shares in the company, valued at $2,331,819. The disclosure for this sale can be found here. Insiders have sold 405,057 shares of company stock worth $2,587,804 over the last 90 days. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of SoundHound AI

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Independent Advisor Alliance purchased a new position in shares of SoundHound AI in the fourth quarter valued at approximately $28,000. IAM Advisory LLC acquired a new stake in shares of SoundHound AI in the fourth quarter valued at $29,000. Hexagon Capital Partners LLC purchased a new position in SoundHound AI in the first quarter valued at $29,000. HighPoint Advisor Group LLC acquired a new stake in SoundHound AI in the 4th quarter valued at about $37,000. Finally, Great Valley Advisor Group Inc. purchased a new stake in shares of SoundHound AI during the fourth quarter worth approximately $42,000. 19.28% of the stock is owned by institutional investors and hedge funds.

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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