SoundHound AI, Inc. (NASDAQ:SOUN) Given Average Rating of “Moderate Buy” by Analysts

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.88.

SOUN has been the topic of a number of analyst reports. Wedbush increased their price target on SoundHound AI from $5.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. DA Davidson increased their price target on SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, March 15th. HC Wainwright increased their price target on SoundHound AI from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. LADENBURG THALM/SH SH initiated coverage on SoundHound AI in a research report on Tuesday, January 30th. They set a “buy” rating and a $4.00 price target on the stock. Finally, Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target on the stock in a research report on Thursday, April 11th.

SoundHound AI Price Performance

Shares of NASDAQ SOUN opened at $4.01 on Friday. The firm has a market cap of $1.24 billion, a P/E ratio of -10.28 and a beta of 2.75. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 6.03. SoundHound AI has a 1-year low of $1.49 and a 1-year high of $10.25. The business’s 50 day moving average is $5.47 and its 200-day moving average is $3.19.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $17.10 million for the quarter, compared to the consensus estimate of $17.75 million. SoundHound AI had a negative return on equity of 1,955.68% and a negative net margin of 188.57%. SoundHound AI’s revenue for the quarter was up 80.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) EPS. Equities research analysts predict that SoundHound AI will post -0.3 earnings per share for the current year.

Insider Buying and Selling at SoundHound AI

In other news, CEO Keyvan Mohajer sold 107,927 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $3.70, for a total value of $399,329.90. Following the completion of the transaction, the chief executive officer now directly owns 1,218,712 shares in the company, valued at approximately $4,509,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Lawrence Marcus sold 50,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $7.00, for a total value of $350,000.00. Following the completion of the transaction, the director now directly owns 333,117 shares in the company, valued at approximately $2,331,819. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keyvan Mohajer sold 107,927 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $3.70, for a total value of $399,329.90. Following the completion of the transaction, the chief executive officer now owns 1,218,712 shares of the company’s stock, valued at $4,509,234.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 405,057 shares of company stock valued at $2,587,804. 21.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Independent Advisor Alliance bought a new position in SoundHound AI during the 4th quarter worth $28,000. IAM Advisory LLC bought a new position in SoundHound AI during the 4th quarter worth $29,000. Hexagon Capital Partners LLC bought a new position in SoundHound AI during the 1st quarter worth $29,000. HighPoint Advisor Group LLC bought a new position in SoundHound AI during the 4th quarter worth $37,000. Finally, Great Valley Advisor Group Inc. bought a new position in SoundHound AI during the 4th quarter worth $42,000. 19.28% of the stock is currently owned by institutional investors.

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.