SoundHound AI (NASDAQ:SOUN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

SoundHound AI (NASDAQ:SOUN) issued its quarterly earnings data on Tuesday. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01, Briefing.com reports. SoundHound AI had a negative return on equity of 73.21% and a negative net margin of 163.58%. The business had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. During the same quarter last year, the business posted ($0.09) EPS. The firm’s revenue was up 88.7% compared to the same quarter last year. SoundHound AI updated its FY 2025 guidance to EPS and its FY 2024 guidance to EPS.

SoundHound AI Stock Performance

Shares of NASDAQ:SOUN traded up $0.36 during trading on Thursday, reaching $6.63. 73,143,959 shares of the stock traded hands, compared to its average volume of 34,581,109. The stock has a market cap of $2.38 billion, a P/E ratio of -18.42 and a beta of 2.71. The stock has a 50-day moving average of $5.26 and a two-hundred day moving average of $4.94. SoundHound AI has a 52-week low of $1.62 and a 52-week high of $10.25.

Insiders Place Their Bets

In other news, CFO Nitesh Sharan sold 39,728 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $193,872.64. Following the sale, the chief financial officer now directly owns 1,560,411 shares of the company’s stock, valued at $7,614,805.68. This represents a 2.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keyvan Mohajer sold 63,544 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the sale, the chief executive officer now directly owns 2,299,148 shares in the company, valued at $11,311,808.16. This trade represents a 2.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 327,275 shares of company stock worth $1,606,644. Company insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SOUN shares. Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.00 to $7.00 in a report on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Thursday, September 26th. Barclays reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday. HC Wainwright raised their target price on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. Finally, LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, SoundHound AI presently has a consensus rating of “Moderate Buy” and an average price target of $7.64.

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.