SoundHound AI, Inc. (NASDAQ:SOUN) Given Average Rating of “Moderate Buy” by Analysts

SoundHound AI, Inc. (NASDAQ:SOUN) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.88.

A number of equities analysts have commented on SOUN shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Monday, July 29th. Wedbush reissued an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research note on Friday, May 10th. Finally, Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price on the stock in a research note on Thursday, April 11th.

Insider Activity

In other news, CTO Timothy Stonehocker sold 208,000 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $5.75, for a total transaction of $1,196,000.00. Following the transaction, the chief technology officer now directly owns 659,531 shares of the company’s stock, valued at $3,792,303.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider James Ming Hom sold 16,716 shares of SoundHound AI stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $4.04, for a total transaction of $67,532.64. Following the sale, the insider now directly owns 486,989 shares in the company, valued at $1,967,435.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Timothy Stonehocker sold 208,000 shares of SoundHound AI stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.75, for a total value of $1,196,000.00. Following the sale, the chief technology officer now owns 659,531 shares in the company, valued at $3,792,303.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 625,728 shares of company stock valued at $3,011,476. Company insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On SoundHound AI

Several hedge funds have recently made changes to their positions in the company. Hexagon Capital Partners LLC bought a new stake in SoundHound AI in the first quarter worth $29,000. DecisionPoint Financial LLC bought a new stake in SoundHound AI in the first quarter worth $40,000. Kings Path Partners LLC bought a new stake in SoundHound AI in the second quarter worth $28,000. International Assets Investment Management LLC bought a new stake in SoundHound AI in the second quarter worth $31,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in SoundHound AI in the first quarter worth $55,000. 19.28% of the stock is currently owned by institutional investors.

SoundHound AI Price Performance

Shares of SoundHound AI stock opened at $4.62 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84. The business’s 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $4.59. The stock has a market capitalization of $1.52 billion, a P/E ratio of -12.16 and a beta of 2.77. SoundHound AI has a one year low of $1.49 and a one year high of $10.25.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The business had revenue of $11.59 million for the quarter, compared to analysts’ expectations of $10.10 million. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The business’s quarterly revenue was up 72.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.12) EPS. Analysts forecast that SoundHound AI will post -0.3 EPS for the current year.

SoundHound AI Company Profile

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.