SoundHound AI, Inc. (NASDAQ:SOUN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $12.36.

SOUN has been the subject of several analyst reports. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Northland Securities upped their price objective on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. DA Davidson restated a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. Barclays restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th.

Insiders Place Their Bets

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.03, for a total value of $240,900.00. Following the completion of the sale, the director now owns 110,907 shares in the company, valued at approximately $890,583.21. This represents a 21.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Keyvan Mohajer sold 156,288 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total transaction of $3,157,017.60. Following the transaction, the chief executive officer now directly owns 2,021,666 shares of the company’s stock, valued at $40,837,653.20. This trade represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,782,918 shares of company stock worth $45,391,343. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC bought a new position in shares of SoundHound AI during the 4th quarter valued at about $40,000. ST Germain D J Co. Inc. boosted its holdings in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after purchasing an additional 750 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of SoundHound AI during the 4th quarter valued at about $64,000. NBC Securities Inc. boosted its holdings in shares of SoundHound AI by 97.8% during the 3rd quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock valued at $35,000 after purchasing an additional 3,818 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of SoundHound AI by 298.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after purchasing an additional 6,716 shares during the last quarter. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Price Performance

Shares of SOUN opened at $13.64 on Monday. The firm has a market cap of $5.04 billion, a PE ratio of -37.89 and a beta of 2.63. 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 fifty day simple moving average of $14.03 and a two-hundred day simple moving average of $8.18. SoundHound AI has a 1-year low of $1.62 and a 1-year high of $24.98.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $25.10 million during the quarter, compared to analyst estimates of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. The company’s quarterly revenue was up 88.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. On average, equities analysts anticipate that SoundHound AI will post -0.38 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.