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NASDAQ:SOUN

SoundHound AI (SOUN) Stock Forecast, Price & News

$1.82
-0.09 (-4.71%)
(As of 09/22/2023 ET)
Compare
Today's Range
$1.80
$2.01
50-Day Range
$1.89
$3.69
52-Week Range
$0.93
$5.11
Volume
9.98 million shs
Average Volume
14.61 million shs
Market Capitalization
$438.09 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$4.57

SoundHound AI MarketRank™ Forecast

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
150.9% Upside
$4.57 Price Target
Short Interest
Bearish
15.37% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
-0.61mentions of SoundHound AI in the last 14 days
Based on 9 Articles This Week
Insider Trading
Selling Shares
$718,847 Sold Last Quarter
Proj. Earnings Growth
Growing
From ($0.38) to ($0.22) Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.95 out of 5 stars

Computer And Technology Sector

422nd out of 585 stocks

Prepackaged Software Industry

139th out of 199 stocks


SOUN stock logo

About SoundHound AI (NASDAQ:SOUN) Stock

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 Price History

SOUN Stock News Headlines

The Best 5 Small Cap AI Companies to Buy Now (SOUN)
Small-cap AI stocks represent companies with smaller market capitalizations. Learn more about our top picks for the best small-cap AI stocks to buy now.
5 AI Penny Stocks Trading Under $5 (SOUN)
For those willing to take on higher risk, exploring small-cap AI companies trading under $5 presents a potential path to substantial rewards in the AI market.
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
SoundHound AI Appoints PwC as Auditor
Is SoundHound AI Stock a Buy?
TVC Report: 5 AI Startups To Watch for Q4
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
DoorDash launches AI-powered voice ordering
SoundHound AI: Buy Point
SOUNW SoundHound AI, Inc. WT EXP 042627
AI Shares Bid Up Before Opening Bell
Q2 2023 SoundHound AI Inc Earnings Call
See More Headlines
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SOUN Company Calendar

Last Earnings
8/08/2023
Today
9/22/2023
Next Earnings (Estimated)
11/09/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
N/A
Current Symbol
NASDAQ:SOUN
Fax
N/A
Employees
430
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$4.57
High Stock Price Forecast
$5.00
Low Stock Price Forecast
$4.20
Forecasted Upside/Downside
+150.9%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
2 Analysts

Profitability

Net Income
$-115,370,000.00
Net Margins
-298.53%
Pretax Margin
-290.52%

Debt

Sales & Book Value

Annual Sales
$31.13 million
Book Value
($0.18) per share

Miscellaneous

Free Float
189,435,000
Market Cap
$438.09 million
Optionable
Not Optionable
Beta
0.67
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Key Executives

  • Dr. Keyvan MohajerDr. Keyvan Mohajer (Age 45)
    CEO, Pres & Director
    Comp: $381.04k
  • Mr. Nitesh Sharan (Age 48)
    Chief Financial Officer
    Comp: $403.96k
  • Mr. Zubin D. Irani CSM (Age 43)
    ITIL, PMP, Advisor
    Comp: $319.15k
  • Mr. James Hom (Age 39)
    Co-Founder, Chief Product Officer & Director
  • Mr. Seyed Majid Emami (Age 46)
    Co-Founder, Chief Science Officer & Sr. VP of Engineering
  • Mr. Michael Zagorsek (Age 48)
    Chief Operating Officer
  • Mr. Timothy Stonehocker (Age 42)
    Chief Technology Officer
  • Scott Smith
    Head of Investor Relations
  • Mr. Warren Heit
    Sr. VP of Legal & Gen. Counsel
  • Mr. Amir Arbabi (Age 46)
    Sr. VP of Bus. Devel.













SOUN Stock - Frequently Asked Questions

Should I buy or sell SoundHound AI stock right now?

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

What is SoundHound AI's stock price forecast for 2023?

2 Wall Street analysts have issued 12-month price targets for SoundHound AI's shares. Their SOUN share price forecasts range from $4.20 to $5.00. On average, they anticipate the company's stock price to reach $4.57 in the next year. This suggests a possible upside of 150.9% 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 2023?

SoundHound AI's stock was trading at $1.77 at the start of the year. Since then, SOUN stock has increased by 2.8% and is now trading at $1.82.
View the best growth stocks for 2023 here
.

Are investors shorting SoundHound AI?

SoundHound AI saw a increase in short interest during the month of August. As of August 31st, there was short interest totaling 26,730,000 shares, an increase of 22.3% from the August 15th total of 21,850,000 shares. Based on an average daily trading volume, of 18,430,000 shares, the short-interest ratio is currently 1.5 days. Currently, 15.4% of the company's stock are sold short.
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, November 9th 2023.
View our SOUN earnings forecast
.

How were SoundHound AI's earnings last quarter?

SoundHound AI, Inc. (NASDAQ:SOUN) posted its earnings results on Tuesday, August, 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $8.75 million for the quarter, compared to the consensus estimate of $8.07 million. The firm's revenue was up 42.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.19) EPS.

What ETFs hold SoundHound AI's stock?

ETFs with the largest weight of SoundHound AI (NASDAQ:SOUN) stock in their portfolio include Roundhill Generative AI & Technology ETF (CHAT).Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ).

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

SoundHound AI updated its FY 2023 earnings guidance on Thursday, August, 10th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $43.00 million-$50.00 million, compared to the consensus revenue estimate of $45.34 million.

What is SoundHound AI's stock symbol?

SoundHound AI trades on the NASDAQ under the ticker symbol "SOUN."

Who are SoundHound AI's major shareholders?

SoundHound AI's stock is owned by many different retail and institutional investors. Top institutional shareholders include BlackRock Inc. (4.39%), Geode Capital Management LLC (1.25%), State Street Corp (1.25%), Mirae Asset Global Investments Co. Ltd. (0.79%), Northern Trust Corp (0.58%) and Readystate Asset Management LP (0.58%). 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is SoundHound AI's stock price today?

One share of SOUN stock can currently be purchased for approximately $1.82.

How much money does SoundHound AI make?

SoundHound AI (NASDAQ:SOUN) has a market capitalization of $438.09 million and generates $31.13 million in revenue each year. The company earns $-115,370,000.00 in net income (profit) each year or ($0.53) on an earnings per share basis.

How many employees does SoundHound AI have?

The company employs 430 workers across the globe.

How can I contact SoundHound AI?

SoundHound AI's mailing address is 2093 PHILADELPHIA PIKE #1968, CLAYMONT DE, 19703. The official website for the company is www.soundhound.com. The company can be reached via phone at 408-441-3200 or via email at ir@soundhound.com.

This page (NASDAQ:SOUN) was last updated on 9/22/2023 by MarketBeat.com Staff

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