SoundHound AI (SOUN) to Release Earnings on Tuesday

SoundHound AI (NASDAQ:SOUN) is set to release its earnings data after the market closes on Tuesday, November 12th. Analysts expect SoundHound AI to post earnings of ($0.08) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last issued its earnings results on Thursday, August 8th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The business had revenue of $13.46 million for the quarter, compared to the consensus estimate of $13.09 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The business’s revenue was up 53.8% compared to the same quarter last year. On average, analysts expect SoundHound AI to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoundHound AI Trading Up 2.4 %

Shares of NASDAQ SOUN opened at $5.21 on Tuesday. The stock has a 50 day moving average of $4.95 and a 200-day moving average of $4.80. SoundHound AI has a 12 month low of $1.61 and a 12 month high of $10.25.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, CEO Keyvan Mohajer sold 90,641 shares of SoundHound AI stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $442,328.08. Following the completion of the transaction, the chief executive officer now directly owns 2,362,692 shares of the company’s stock, valued at $11,529,936.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Keyvan Mohajer sold 90,641 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $442,328.08. Following the completion of the transaction, the chief executive officer now owns 2,362,692 shares of the company’s stock, valued at approximately $11,529,936.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nitesh Sharan sold 39,728 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $193,872.64. Following the transaction, the chief financial officer now directly owns 1,560,411 shares of the company’s stock, valued at $7,614,805.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,275 shares of company stock valued at $1,606,644 in the last three months. Corporate insiders own 12.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SOUN. Northland Securities lifted their price target on SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Wedbush reissued an “outperform” rating and set a $9.00 price target on shares of SoundHound AI in a report on Thursday, September 26th. DA Davidson reissued a “buy” rating and set a $9.50 price target on shares of SoundHound AI in a report on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday, September 18th. Finally, Cantor Fitzgerald raised SoundHound AI from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $5.00 to $7.00 in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.08.

About SoundHound AI

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.