SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) shares were up 4% during mid-day trading on Friday . The stock traded as high as $16.62 and last traded at $16.25. Approximately 91,325,538 shares traded hands during mid-day trading, an increase of 104% from the average daily volume of 44,811,426 shares. The stock had previously closed at $15.63.
Analyst Ratings Changes
Several analysts recently issued reports on SOUN shares. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of SoundHound AI in a report on Wednesday. Northland Securities upgraded shares of SoundHound AI from a "market perform" rating to an "outperform" rating and set a $14.50 price objective on the stock in a report on Friday, August 8th. Wall Street Zen lowered shares of SoundHound AI from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. LADENBURG THALM/SH SH upgraded shares of SoundHound AI from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.00 to $16.00 in a research note on Monday, August 11th. Finally, Wedbush reiterated an "outperform" rating and set a $16.00 price target on shares of SoundHound AI in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.36.
Check Out Our Latest Report on SoundHound AI
SoundHound AI Stock Up 4.0%
The stock has a fifty day moving average of $13.03 and a 200-day moving average of $10.77. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of -25.79 and a beta of 2.58.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly 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). The business had revenue of $42.68 million during the quarter, compared to analyst estimates of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The business's revenue for the quarter was up 216.3% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. On average, equities analysts forecast that SoundHound AI, Inc. will post -0.38 EPS for the current fiscal year.
Insider Activity at SoundHound AI
In related news, Director Diana Sroka sold 2,800 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $9.94, for a total value of $27,832.00. Following the completion of the transaction, the director directly owned 153,949 shares of the company's stock, valued at $1,530,253.06. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Timothy Stonehocker sold 2,981 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $9.68, for a total value of $28,856.08. Following the completion of the sale, the chief technology officer directly owned 716,866 shares of the company's stock, valued at $6,939,262.88. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,076 shares of company stock valued at $659,638 over the last three months. 9.17% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On SoundHound AI
Several large investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its stake in shares of SoundHound AI by 14.0% during the second quarter. Osaic Holdings Inc. now owns 498,691 shares of the company's stock worth $5,351,000 after purchasing an additional 61,212 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in SoundHound AI in the second quarter worth $157,000. Newbridge Financial Services Group Inc. raised its position in SoundHound AI by 6.3% in the second quarter. Newbridge Financial Services Group Inc. now owns 31,050 shares of the company's stock worth $333,000 after acquiring an additional 1,850 shares in the last quarter. Marex Group plc purchased a new position in SoundHound AI in the second quarter worth $3,728,000. Finally, Tyler Stone Wealth Management raised its position in SoundHound AI by 20.7% in the second quarter. Tyler Stone Wealth Management now owns 32,190 shares of the company's stock worth $345,000 after acquiring an additional 5,510 shares in the last quarter. Hedge funds and other institutional investors own 19.28% of the company's stock.
SoundHound AI Company Profile
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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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