SoundHound AI, Inc. (NASDAQ:SOUN) Given Consensus Rating of “Hold” by Analysts

SoundHound AI, Inc. (NASDAQ:SOUN) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $12.86.

Several equities research analysts have issued reports on the stock. DA Davidson raised their price objective on shares of SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Northland Securities boosted their price target on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Wedbush upped their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th.

SoundHound AI Stock Down 2.5 %

SOUN stock opened at $10.08 on Tuesday. SoundHound AI has a 1-year low of $3.50 and a 1-year high of $24.98. The business’s 50 day simple moving average is $12.65 and its 200 day simple moving average is $10.30. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.96 billion, a PE ratio of -28.00 and a beta of 2.62.

SoundHound AI (NASDAQ:SOUN) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.58). The company had revenue of $34.54 million during the quarter, compared to analyst estimates of $33.70 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. As a group, research analysts anticipate that SoundHound AI will post -0.38 EPS for the current year.

Insider Buying and Selling at SoundHound AI

In related news, COO Michael Zagorsek sold 277,813 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the sale, the chief operating officer now owns 1,473,322 shares in the company, valued at $31,308,092.50. The trade was a 15.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Majid Emami sold 37,459 shares of SoundHound AI stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $760,417.70. Following the sale, the vice president now directly owns 698,226 shares in the company, valued at $14,173,987.80. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 802,489 shares of company stock worth $16,542,220 over the last quarter. Corporate insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On SoundHound AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after purchasing an additional 830 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 1,271 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of SoundHound AI in the fourth quarter worth approximately $30,000. Future Financial Wealth Managment LLC acquired a new stake in SoundHound AI during the 4th quarter valued at approximately $40,000. Finally, Compagnie Lombard Odier SCmA bought a new position in SoundHound AI during the 4th quarter worth approximately $40,000. 19.28% of the stock is currently owned by institutional investors and hedge funds.

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.