Brokerages Set SoundHound AI, Inc. (NASDAQ:SOUN) PT at $12.43

SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) has received a consensus recommendation of "Hold" from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.43.

A number of equities research analysts recently commented on the company. Cantor Fitzgerald upgraded SoundHound AI to a "hold" rating in a report on Monday, February 24th. DA Davidson lowered their price objective on shares of SoundHound AI from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Northland Securities boosted their target price on SoundHound AI from $6.00 to $8.00 and gave the company a "market perform" rating in a research note on Tuesday, January 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $26.00 price objective on shares of SoundHound AI in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other SoundHound AI news, VP Majid Emami sold 28,392 shares of SoundHound AI stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $281,080.80. Following the sale, the vice president now directly owns 669,834 shares in the company, valued at approximately $6,631,356.60. The trade was a 4.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Ming Hom sold 51,196 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $10.25, for a total transaction of $524,759.00. Following the transaction, the insider now owns 638,456 shares of the company's stock, valued at approximately $6,544,174. This represents a 7.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 500,565 shares of company stock valued at $4,999,726 in the last quarter. 12.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SOUN. Blue Trust Inc. grew its stake in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company's stock valued at $25,000 after buying an additional 830 shares in the last quarter. Sound Income Strategies LLC lifted its stake in SoundHound AI by 2,542.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company's stock valued at $26,000 after acquiring an additional 1,271 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of SoundHound AI in the 4th quarter valued at about $30,000. Golden State Wealth Management LLC increased its stake in shares of SoundHound AI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock worth $34,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of SoundHound AI in the 4th quarter valued at about $40,000. 19.28% of the stock is owned by institutional investors and hedge funds.

SoundHound AI Trading Down 1.9 %

Shares of SOUN stock traded down $0.18 on Wednesday, reaching $9.29. 16,954,723 shares of the stock were exchanged, compared to its average volume of 37,848,023. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI has a one year low of $3.82 and a one year high of $24.98. The stock has a market cap of $3.71 billion, a PE ratio of -25.81 and a beta of 2.73. The stock has a 50 day moving average price of $8.97 and a 200 day moving average price of $11.11.

SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.58). SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $34.54 million for the quarter, compared to the consensus estimate of $33.70 million. Equities research analysts forecast that SoundHound AI will post -0.38 EPS for the current fiscal 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.