SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report)'s share price traded down 7.7% during trading on Friday . The stock traded as low as $7.21 and last traded at $7.39. 31,380,194 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 27,570,428 shares. The stock had previously closed at $8.01.
Wall Street Analysts Forecast Growth
SOUN has been the subject of several analyst reports. HC Wainwright reduced their price target on SoundHound AI from $26.00 to $20.00 and set a "buy" rating for the company in a report on Monday, March 2nd. Piper Sandler reissued a "neutral" rating and set a $9.00 price objective (down from $11.00) on shares of SoundHound AI in a research report on Friday, February 27th. DA Davidson reaffirmed a "buy" rating and issued a $14.00 target price on shares of SoundHound AI in a report on Wednesday, April 22nd. LADENBURG THALM/SH SH upgraded shares of SoundHound AI to a "strong-buy" rating in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of SoundHound AI from a "strong sell" rating to a "hold" rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.93.
Check Out Our Latest Stock Analysis on SoundHound AI
SoundHound AI Stock Performance
The firm has a market cap of $3.20 billion, a PE ratio of -15.72 and a beta of 2.56. The stock has a 50-day simple moving average of $7.82 and a two-hundred day simple moving average of $9.10.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). SoundHound AI had a negative net margin of 91.84% and a negative return on equity of 40.15%. The company had revenue of $44.20 million for the quarter, compared to analysts' expectations of $42.56 million. During the same period in the previous year, the business earned ($0.06) EPS. The business's revenue was up 51.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SoundHound AI, Inc. will post -0.43 EPS for the current fiscal year.
Insiders Place Their Bets
In other SoundHound AI news, COO Michael Zagorsek sold 52,968 shares of SoundHound AI stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.79, for a total value of $359,652.72. Following the completion of the sale, the chief operating officer owned 1,734,491 shares of the company's stock, valued at approximately $11,777,193.89. The trade was a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Nitesh Sharan sold 44,027 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.79, for a total value of $298,943.33. Following the transaction, the chief financial officer directly owned 1,661,121 shares in the company, valued at $11,279,011.59. The trade was a 2.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 307,973 shares of company stock worth $2,091,110 in the last 90 days. Insiders own 8.84% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of SoundHound AI by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 45,367,437 shares of the company's stock valued at $452,313,000 after purchasing an additional 1,909,868 shares during the period. Geode Capital Management LLC lifted its stake in shares of SoundHound AI by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 9,180,321 shares of the company's stock worth $91,543,000 after purchasing an additional 273,097 shares during the period. Morgan Stanley boosted its holdings in shares of SoundHound AI by 48.1% in the fourth quarter. Morgan Stanley now owns 8,987,522 shares of the company's stock worth $89,606,000 after buying an additional 2,917,280 shares during the last quarter. State Street Corp boosted its holdings in shares of SoundHound AI by 0.9% in the fourth quarter. State Street Corp now owns 8,691,235 shares of the company's stock worth $86,652,000 after buying an additional 80,908 shares during the last quarter. Finally, UBS Group AG grew its position in SoundHound AI by 77.6% during the fourth quarter. UBS Group AG now owns 6,124,283 shares of the company's stock valued at $61,059,000 after buying an additional 2,676,707 shares during the period. Institutional investors own 19.28% of the company's stock.
About SoundHound AI
(
Get Free Report)
SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.
The company's core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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
MarketBeat's analysts have just released their top five short plays for June 2026. Learn which stocks have the most short interest and how to trade them. Click the link to see which companies made the list.
Get This Free Report
