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

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

SOUN has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 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 report on Tuesday, January 14th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Barclays reissued a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Wedbush upped their target price on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th.

SoundHound AI Trading Up 9.2 %

Shares of SOUN stock opened at $15.25 on Friday. The business’s fifty day moving average price is $16.70 and its 200 day moving average price is $9.45. SoundHound AI has a 1-year low of $2.22 and a 1-year high of $24.98. The firm has a market capitalization of $6.00 billion, a PE ratio of -42.36 and a beta of 2.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. SoundHound AI’s quarterly revenue was up 88.7% on a year-over-year basis. As a group, sell-side analysts forecast that SoundHound AI will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at SoundHound AI

In related news, CEO Keyvan Mohajer sold 465,394 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the sale, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. This trade represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Majid Emami sold 37,459 shares of the stock in a transaction on 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 approximately $14,173,987.80. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. Insiders own 12.28% of the company’s stock.

Institutional Trading of SoundHound AI

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after buying an additional 830 shares during the period. Sound Income Strategies LLC grew its position in shares of SoundHound AI by 2,542.0% in the 4th 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of SoundHound AI in the 4th quarter worth approximately $40,000. Compagnie Lombard Odier SCmA bought a new stake in shares of SoundHound AI in the 4th quarter worth approximately $40,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of SoundHound AI in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 19.28% of the company’s stock.

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.