Cantor Fitzgerald Predicts SoundHound AI FY2024 Earnings

SoundHound AI, Inc. (NASDAQ:SOUN) – Equities research analysts at Cantor Fitzgerald issued their FY2024 earnings per share (EPS) estimates for SoundHound AI in a note issued to investors on Monday, February 24th. Cantor Fitzgerald analyst T. Blakey anticipates that the company will post earnings of ($0.37) per share for the year. Cantor Fitzgerald currently has a “Hold” rating on the stock. The consensus estimate for SoundHound AI’s current full-year earnings is ($0.38) per share. Cantor Fitzgerald also issued estimates for SoundHound AI’s FY2025 earnings at ($0.21) EPS.

Other equities research analysts have also issued research reports about the stock. Barclays reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a report on Monday, January 13th. LADENBURG THALM/SH SH reiterated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush boosted their price objective on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Northland Securities raised their target price on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, SoundHound AI currently has a consensus rating of “Hold” and an average target price of $12.36.

SoundHound AI Stock Down 5.6 %

SOUN stock opened at $8.90 on Wednesday. The business’s 50-day moving average is $15.83 and its two-hundred day moving average is $9.85. The company has a market cap of $3.50 billion, a price-to-earnings ratio of -24.72 and a beta of 2.56. SoundHound AI has a fifty-two week low of $3.50 and a fifty-two week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after buying an additional 830 shares in the last quarter. Sound Income Strategies LLC grew its stake in SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 1,271 shares in the last quarter. Orion Capital Management LLC bought a new stake in SoundHound AI in the 4th quarter valued at $30,000. Future Financial Wealth Managment LLC purchased a new stake in SoundHound AI in the 4th quarter worth $40,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in SoundHound AI in the 4th quarter worth $40,000. 19.28% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SoundHound AI

In related news, Director Lawrence Marcus sold 20,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the transaction, the director now owns 108,117 shares of the company’s stock, valued at approximately $2,213,154.99. This represents a 15.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Timothy Stonehocker sold 34,407 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $698,462.10. Following the sale, the chief technology officer now directly owns 796,581 shares in the company, valued at approximately $16,170,594.30. This represents a 4.14 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 12.28% 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.