SoundHound AI (SOUN) Stock Price, News & Analysis

$4.17
+0.39 (+10.32%)
(As of 04/23/2024 ET)
Today's Range
$3.76
$4.39
50-Day Range
$2.26
$8.91
52-Week Range
$1.49
$10.25
Volume
43.01 million shs
Average Volume
53.09 million shs
Market Capitalization
$1.29 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$6.88

SoundHound AI MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.67 Rating Score
Upside/​Downside
65.0% Upside
$6.88 Price Target
Short Interest
Bearish
19.71% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.51mentions of SoundHound AI in the last 14 days
Based on 30 Articles This Week
Insider Trading
Selling Shares
$2.59 M Sold Last Quarter
Proj. Earnings Growth
Growing
From ($0.30) to ($0.21) Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

2.96 out of 5 stars

Computer And Technology Sector

308th out of 583 stocks

Prepackaged Software Industry

106th out of 195 stocks

SOUN stock logo

About SoundHound AI Stock (NASDAQ:SOUN)

SoundHound AI Inc. is a cutting-edge technology company developing artificial intelligence (AI) solutions for voice-enabled devices and mobile applications. The company is headquartered in Santa Clara, California, with additional San Francisco and Tokyo offices. Founded in 2005  SoundHound AI has been at the forefront of voice recognition technology, with its flagship product being the SoundHound music and voice recognition app. The app has over 315 million downloads worldwide, and the company has also partnered with several prominent automobile manufacturers to integrate its technology into cars.

The leadership team at SoundHound AI comprises experienced executives with technology and business backgrounds. The CEO and co-founder, Keyvan Mohajer, has over 25 years of experience in technology and has led the company since its inception. In 2022, the company announced the appointment of a new Chief Financial Officer, Nitesh Sharan, who has 20+ years of experience in finance. Before joining SoundHound AI, he was the CFO at Nike and also served as the assistant treasurer at Hewlett Packard. 

SoundHound AI has been experiencing revenue growth over the past few years while maintaining a healthy profit margin. The company has also held a healthy profit margin of around 10%. However, the company has struggled with debt in the past and in Q3 of 2022, the company made changes to bring that debt under control by slashing 10% of its workers. In 2021, the company raised $100 million in a funding round led by Tencent Holdings. In Q1 of 2023, the company issued new Series A Preferred Stock and Class A common stock to the shareholders' disappointment. Over the past year, SoundHound AI's stock price has been volatile, with several significant price movements. Trading volume has been relatively stable over the past year, with an average daily volume of around 1.5 million shares. SoundHound AI's valuation metrics are favorable when compared to industry peers.

SoundHound AI operates in the highly competitive AI technology industry, which is expected to grow rapidly over the next decade. The company faces competition from established players such as Google, Microsoft and Amazon and emerging startups. The industry is also subject to significant regulatory and political pressures as governments worldwide seek to regulate the use of AI technology.

SoundHound AI has several growth opportunities, including expanding its technology into new markets and developing new products. The company has already made inroads into the automobile industry, integrating its technology into several prominent car brands. In addition, the company has recently launched a new product, Houndify, which is a platform that allows developers to integrate voice recognition technology into their applications.

One of the primary risks facing SoundHound AI is the intense competition in the AI technology industry. The company must continue to innovate and differentiate itself from its competitors to remain successful. In addition, the industry is subject to significant regulatory and political pressures, which could impact the company's growth prospects. Finally, the company's success depends on adopting voice recognition technology, which could be affected by changes in consumer preferences or advances in alternative technologies.

Another challenge facing SoundHound AI is the potential for intellectual property disputes. The company's technology relies heavily on proprietary algorithms and software, which could be subject to infringement claims by competitors. The company may also face challenges in protecting its intellectual property rights in countries where intellectual property laws need to be stronger or better enforced.

Finally, SoundHound AI's growth is dependent on the ability to attract and retain talented employees. The company operates in a highly competitive industry and faces stiff competition for top talent from other technology companies. In addition, the company must compete with other startups for access to funding, which could impact its ability to invest in research and development and other growth initiatives.

SOUN Stock Price History

SOUN Stock News Headlines

Why Is SoundHound AI (SOUN) Stock Up 10% Today?
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SoundHound AI (NASDAQ:SOUN) Trading Down 1.3%
Is SoundHound AI Stock a Buy Now?
Why Is SoundHound AI Stock Dropping?
Up 67% YTD, Is Soundhound AI Overvalued?
SoundHound AI (NASDAQ:SOUN) Shares Gap Down to $3.97
Are the Short-Sellers Right About SoundHound AI Stock?
See More Headlines
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Company Calendar

Last Earnings
2/29/2024
Today
4/23/2024
Next Earnings (Confirmed)
5/09/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
N/A
Current Symbol
NASDAQ:SOUN
Fax
N/A
Employees
260
Year Founded
N/A

Price Target and Rating

Average Stock Price Target
$6.88
High Stock Price Target
$9.50
Low Stock Price Target
$4.00
Potential Upside/Downside
+69.9%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.67
Research Coverage
6 Analysts

Profitability

Net Income
$-88,940,000.00
Net Margins
-188.57%
Pretax Margin
-185.34%

Debt

Sales & Book Value

Annual Sales
$45.87 million
Book Value
$0.05 per share

Miscellaneous

Free Float
243,274,000
Market Cap
$1.25 billion
Optionable
Optionable
Beta
2.75
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Key Executives

  • Dr. Keyvan MohajerDr. Keyvan Mohajer (Age 46)
    CEO, President & Director
    Comp: $381.04k
  • Mr. Nitesh Sharan (Age 49)
    Chief Financial Officer
    Comp: $403.96k
  • Mr. Zubin D. Irani CSM (Age 45)
    ITIL, PMP, Advisor
    Comp: $319.15k
  • Mr. James Hom (Age 40)
    Co-Founder, Chief Product Officer & Director
  • Mr. Seyed Majid Emami (Age 47)
    Co-Founder, Chief Science Officer & Senior VP of Engineering
  • Mr. Michael Zagorsek (Age 49)
    Chief Operating Officer
  • Mr. Timothy Stonehocker (Age 43)
    Chief Technology Officer
    Comp: $252.17k
  • Scott Smith
    Head of Investor Relations
  • Mr. Warren Heit
    Senior VP of Legal & General Counsel
  • Mr. Amir Arbabi (Age 47)
    Senior Vice President of Business Development

SOUN Stock Analysis - Frequently Asked Questions

Should I buy or sell SoundHound AI stock right now?

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for SoundHound AI in the last year. There are currently 2 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" SOUN shares.
View SOUN analyst ratings
or view top-rated stocks.

What is SoundHound AI's stock price target for 2024?

6 equities research analysts have issued 1-year price objectives for SoundHound AI's shares. Their SOUN share price targets range from $4.00 to $9.50. On average, they expect the company's stock price to reach $6.88 in the next twelve months. This suggests a possible upside of 65.0% from the stock's current price.
View analysts price targets for SOUN
or view top-rated stocks among Wall Street analysts.

How have SOUN shares performed in 2024?

SoundHound AI's stock was trading at $2.12 at the beginning of 2024. Since then, SOUN shares have increased by 96.7% and is now trading at $4.17.
View the best growth stocks for 2024 here
.

Are investors shorting SoundHound AI?

SoundHound AI saw a increase in short interest in the month of March. As of March 31st, there was short interest totaling 50,350,000 shares, an increase of 24.5% from the March 15th total of 40,450,000 shares. Based on an average trading volume of 59,610,000 shares, the short-interest ratio is presently 0.8 days. Approximately 19.7% of the shares of the stock are short sold.
View SoundHound AI's Short Interest
.

When is SoundHound AI's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
View our SOUN earnings forecast
.

How were SoundHound AI's earnings last quarter?

SoundHound AI, Inc. (NASDAQ:SOUN) issued its earnings results on Thursday, February, 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $17.10 million for the quarter, compared to analysts' expectations of $17.75 million. SoundHound AI had a negative trailing twelve-month return on equity of 1,955.68% and a negative net margin of 188.57%. The firm's revenue was up 80.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) EPS.

What ETFs hold SoundHound AI's stock?

ETFs with the largest weight of SoundHound AI (NASDAQ:SOUN) stock in their portfolio include Invesco Dorsey Wright Technology Momentum ETF (PTF).Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ).

What guidance has SoundHound AI issued on next quarter's earnings?

SoundHound AI issued an update on its FY 2025 earnings guidance on Thursday, February, 29th. The company provided EPS guidance of for the period. The company issued revenue guidance of $100.0 million-.

Who are SoundHound AI's major shareholders?

SoundHound AI's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include PFG Investments LLC (0.07%), Global Assets Advisory LLC (0.04%), Sovereign Financial Group Inc. (0.01%), Global Retirement Partners LLC (0.01%), Kessler Investment Group LLC (0.01%) and Genesee Capital Advisors LLC (0.01%). Insiders that own company stock include Diana Sroka, Eric R Ball, James Ming Hom, Keyvan Mohajer, Lawrence Marcus, Majid Emami, Michael Zagorsek, Nitesh Sharan and Timothy Stonehocker.
View institutional ownership trends
.

How do I buy shares of SoundHound AI?

Shares of SOUN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:SOUN) was last updated on 4/23/2024 by MarketBeat.com Staff

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