Shares of SoundHound AI, Inc. (NASDAQ:SOUN - Get Free Report) traded down 2.5% during mid-day trading on Friday . The company traded as low as $15.68 and last traded at $15.94. 44,203,047 shares were traded during trading, a decline of 3% from the average session volume of 45,723,945 shares. The stock had previously closed at $16.35.
Analyst Ratings Changes
SOUN has been the subject of a number of recent analyst reports. Piper Sandler restated a "neutral" rating and issued a $12.00 price objective on shares of SoundHound AI in a research report on Monday, July 14th. Wall Street Zen lowered shares of SoundHound AI from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Northland Capmk raised shares of SoundHound AI from a "hold" rating to a "strong-buy" rating in a report on Friday, August 8th. Oppenheimer initiated coverage on shares of SoundHound AI in a research report on Thursday, September 11th. They issued a "market perform" rating on the stock. Finally, LADENBURG THALM/SH SH upgraded shares of SoundHound AI from a "neutral" rating to a "buy" rating and upped their price target for the stock from $9.00 to $16.00 in a research report on Monday, August 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.36.
Get Our Latest Research Report on SoundHound AI
SoundHound AI Trading Down 2.5%
The business has a fifty day simple moving average of $13.48 and a two-hundred day simple moving average of $10.99. The company has a market cap of $6.50 billion, a PE ratio of -25.30 and a beta of 2.58.
SoundHound AI (NASDAQ:SOUN - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.19) 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%. SoundHound AI's quarterly revenue was up 216.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. SoundHound AI has set its FY 2025 guidance at EPS. Equities analysts expect that SoundHound AI, Inc. will post -0.38 EPS for the current year.
Insider Transactions at SoundHound AI
In other SoundHound AI news, CFO Nitesh Sharan sold 126,596 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $16.58, for a total value of $2,098,961.68. Following the completion of the sale, the chief financial officer directly owned 1,796,304 shares of the company's stock, valued at $29,782,720.32. This trade represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Timothy Stonehocker sold 2,247 shares of SoundHound AI stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $17.90, for a total value of $40,221.30. Following the transaction, the chief technology officer owned 677,049 shares in the company, valued at approximately $12,119,177.10. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 495,196 shares of company stock valued at $8,068,135. 9.17% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On SoundHound AI
A number of institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of SoundHound AI during the 1st quarter worth approximately $2,395,000. Northern Trust Corp grew its position in SoundHound AI by 2.5% in the first quarter. Northern Trust Corp now owns 2,979,011 shares of the company's stock worth $24,190,000 after acquiring an additional 72,766 shares during the period. Carnegie Investment Counsel increased its stake in SoundHound AI by 8.9% during the first quarter. Carnegie Investment Counsel now owns 1,069,860 shares of the company's stock worth $8,131,000 after acquiring an additional 87,810 shares during the last quarter. Liontrust Investment Partners LLP acquired a new stake in SoundHound AI during the first quarter worth $1,639,000. Finally, First Manhattan CO. LLC. purchased a new stake in SoundHound AI in the first quarter valued at $985,000. 19.28% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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