SoundHound AI (SOUN) Scheduled to Post Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) is set to issue its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.09) per share for the quarter. SoundHound AI has set its FY 2024 guidance at EPS and its FY 2025 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SoundHound AI had a negative return on equity of 1,955.68% and a negative net margin of 188.57%. The company had revenue of $17.10 million during the quarter, compared to the consensus estimate of $17.75 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The firm’s quarterly revenue was up 80.0% compared to the same quarter last year. On average, analysts expect SoundHound AI to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoundHound AI Trading Up 15.8 %

Shares of SOUN opened at $5.21 on Tuesday. SoundHound AI has a twelve month low of $1.49 and a twelve month high of $10.25. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 6.03. The company’s fifty day simple moving average is $5.54 and its 200-day simple moving average is $3.32. The company has a market cap of $1.61 billion, a P/E ratio of -13.36 and a beta of 2.87.

Wall Street Analyst Weigh In

SOUN has been the subject of several recent analyst reports. DA Davidson boosted their target price on SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research report on Friday, March 15th. LADENBURG THALM/SH SH began coverage on SoundHound AI in a research report on Tuesday, January 30th. They issued a “buy” rating and a $4.00 price objective on the stock. Wedbush lifted their target price on SoundHound AI from $5.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Northland Securities reaffirmed a “market perform” rating on shares of SoundHound AI in a research note on Wednesday, February 28th. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price on the stock in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.88.

Insiders Place Their Bets

In other news, CEO Keyvan Mohajer sold 107,927 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,218,712 shares of the company’s stock, valued at approximately $4,509,234.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Keyvan Mohajer sold 107,927 shares of SoundHound AI 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric R. Ball sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $5.00, for a total value of $250,000.00. Following the sale, the director now owns 530,250 shares of the company’s stock, valued at $2,651,250. The disclosure for this sale can be found here. Insiders have sold a total of 405,057 shares of company stock worth $2,587,804 in the last three months. Corporate insiders own 21.30% 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.