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

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have earned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $6.88.

Several brokerages have recently issued reports on SOUN. Wedbush reissued an “outperform” rating and set a $9.00 price objective on shares of SoundHound AI in a research report on Friday, May 10th. Cantor Fitzgerald raised shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective for the company in a research report on Thursday, April 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a research report on Monday, July 29th.

SoundHound AI Trading Down 0.9 %

SOUN opened at $4.62 on Monday. The firm’s fifty day moving average is $4.65 and its two-hundred day moving average is $4.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 8.84 and a current ratio of 8.84. The firm has a market cap of $1.52 billion, a PE ratio of -12.16 and a beta of 2.77. SoundHound AI has a twelve month low of $1.49 and a twelve month high of $10.25.

SoundHound AI (NASDAQ:SOUN) last posted its earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The company had revenue of $11.59 million for the quarter, compared to analyst estimates of $10.10 million. SoundHound AI had a negative net margin of 183.49% and a negative return on equity of 163.00%. The business’s revenue for the quarter was up 72.9% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. Equities research analysts anticipate that SoundHound AI will post -0.3 EPS for the current year.

Insider Activity at SoundHound AI

In related news, CTO Timothy Stonehocker sold 208,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief technology officer now 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 SEC, which can be accessed through the SEC website. In other news, CTO Timothy Stonehocker sold 208,000 shares of SoundHound AI stock in a transaction dated 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 completion of the transaction, the chief technology officer now owns 659,531 shares of the company’s stock, valued at approximately $3,792,303.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James Ming Hom sold 16,716 shares of SoundHound AI stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $4.04, for a total transaction of $67,532.64. Following the completion of the transaction, the insider now directly owns 486,989 shares of the company’s stock, valued at approximately $1,967,435.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 625,728 shares of company stock valued at $3,011,476. Corporate insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC bought a new position in shares of SoundHound AI in the 1st quarter valued at about $29,000. DecisionPoint Financial LLC acquired a new stake in shares of SoundHound AI during the 1st quarter worth about $40,000. Kings Path Partners LLC acquired a new stake in shares of SoundHound AI during the 2nd quarter worth about $28,000. International Assets Investment Management LLC acquired a new stake in shares of SoundHound AI during the 2nd quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of SoundHound AI during the 1st quarter worth about $55,000. Institutional investors own 19.28% of the company’s stock.

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.