SoundHound AI (NASDAQ:SOUN) Director Diana Sroka Sells 1,343 Shares

SoundHound AI, Inc. (NASDAQ:SOUN) Director Diana Sroka sold 1,343 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $12.99, for a total value of $17,445.57. Following the transaction, the director directly owned 152,606 shares in the company, valued at $1,982,351.94. This trade represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

SoundHound AI Stock Down 0.4%

SOUN stock traded down $0.05 during midday trading on Friday, reaching $12.17. The company’s stock had a trading volume of 28,064,174 shares, compared to its average volume of 35,873,584. The business’s 50-day simple moving average is $16.64 and its 200-day simple moving average is $13.09. SoundHound AI, Inc. has a 52 week low of $5.97 and a 52 week high of $24.98. The stock has a market cap of $4.96 billion, a PE ratio of -14.49 and a beta of 2.60.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.06. The business had revenue of $42.05 million for the quarter, compared to the consensus estimate of $40.48 million. SoundHound AI had a negative net margin of 211.16% and a negative return on equity of 93.64%. SoundHound AI’s revenue for the quarter was up 67.6% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that SoundHound AI, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SOUN has been the topic of several research analyst reports. Northland Capmk raised SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th. DA Davidson raised their price target on SoundHound AI from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. HC Wainwright raised their target price on shares of SoundHound AI from $18.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Piper Sandler upped their price target on shares of SoundHound AI from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Wedbush reissued an “outperform” rating and set a $16.00 price objective on shares of SoundHound AI in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.42.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Investors Research Corp grew its stake in shares of SoundHound AI by 62.4% in the third quarter. Investors Research Corp now owns 1,822 shares of the company’s stock valued at $29,000 after buying an additional 700 shares in the last quarter. Financial Consulate Inc. bought a new stake in shares of SoundHound AI in the 3rd quarter valued at about $32,000. Sound Income Strategies LLC lifted its stake in SoundHound AI by 37.3% in the 3rd quarter. Sound Income Strategies LLC now owns 2,116 shares of the company’s stock valued at $34,000 after purchasing an additional 575 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in SoundHound AI by 83.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock worth $25,000 after buying an additional 1,060 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of SoundHound AI by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company’s stock valued at $27,000 after buying an additional 1,023 shares during the last quarter. Institutional investors 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.