SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) traded up 2.6% during mid-day trading on Tuesday . The company traded as high as $16.14 and last traded at $16.08. 57,540,233 shares were traded during trading, an increase of 26% from the average session volume of 45,809,816 shares. The stock had previously closed at $15.68.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the stock. Northland Securities upgraded shares of SoundHound AI from a "market perform" rating to an "outperform" rating and set a $14.50 price objective for the company in a report on Friday, August 8th. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective on shares of SoundHound AI in a report on Wednesday, September 17th. DA Davidson lifted their price objective on shares of SoundHound AI from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Piper Sandler reiterated a "neutral" rating and set a $12.00 price objective on shares of SoundHound AI in a report on Monday, July 14th. Finally, Northland Capmk upgraded shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $14.36.
Get Our Latest Research Report on SoundHound AI
SoundHound AI Price Performance
The stock has a market capitalization of $6.56 billion, a PE ratio of -25.52 and a beta of 2.58. The stock's 50 day simple moving average is $13.62 and its two-hundred day simple moving average is $11.11.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13). The company had revenue of $42.68 million during the quarter, compared to analysts' expectations of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The firm's revenue was up 216.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, COO Michael Zagorsek sold 69,837 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $16.00, for a total value of $1,117,392.00. Following the sale, the chief operating officer owned 1,860,790 shares of the company's stock, valued at $29,772,640. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Timothy Stonehocker sold 2,247 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $17.90, for a total transaction of $40,221.30. Following the sale, the chief technology officer directly owned 677,049 shares in the company, valued at $12,119,177.10. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 495,196 shares of company stock valued at $8,068,135. Corporate insiders own 9.17% of the company's stock.
Institutional Trading of SoundHound AI
A number of hedge funds and other institutional investors have recently bought and sold shares of SOUN. Northwestern Mutual Wealth Management Co. increased its holdings in SoundHound AI by 83.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company's stock worth $25,000 after acquiring an additional 1,060 shares during the period. Advisors Asset Management Inc. increased its holdings in SoundHound AI by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company's stock worth $27,000 after acquiring an additional 1,023 shares during the period. AlphaQuest LLC bought a new stake in SoundHound AI during the 1st quarter worth approximately $32,000. Huntington National Bank increased its holdings in shares of SoundHound AI by 48.8% in the 2nd quarter. Huntington National Bank now owns 3,050 shares of the company's stock worth $33,000 after buying an additional 1,000 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of SoundHound AI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 4,230 shares of the company's stock worth $34,000 after buying an additional 2,115 shares during the last quarter. Institutional investors own 19.28% of the company's stock.
About SoundHound AI
(
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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.
Further Reading
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