SoundHound AI (SOUN) Projected to Post Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) is expected to be issuing its quarterly earnings data after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.11) per share and revenue of $33.70 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

SoundHound AI Stock Performance

Shares of SOUN stock opened at $9.43 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market capitalization of $3.71 billion, a P/E ratio of -26.19 and a beta of 2.56. The company’s 50 day moving average price is $16.04 and its two-hundred day moving average price is $9.82. SoundHound AI has a 52 week low of $3.50 and a 52 week high of $24.98.

Insiders Place Their Bets

In other news, COO Michael Zagorsek sold 277,813 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.25, for a total value of $5,903,526.25. Following the completion of the sale, the chief operating officer now owns 1,473,322 shares of the company’s stock, valued at approximately $31,308,092.50. The trade was a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Majid Emami sold 94,067 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $9.05, for a total transaction of $851,306.35. Following the completion of the sale, the vice president now directly owns 735,685 shares of the company’s stock, valued at approximately $6,657,949.25. The trade was a 11.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,722,918 shares of company stock valued at $44,935,943 over the last ninety days. 12.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Northland Securities lifted their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. Cantor Fitzgerald upgraded shares of SoundHound AI to a “hold” rating in a report on Monday. Wedbush lifted their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Barclays reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.36.

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.