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

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $14.9286.

Several equities research analysts have recently weighed in on SOUN shares. LADENBURG THALM/SH SH raised SoundHound AI to a “strong-buy” rating in a report on Thursday, December 18th. DA Davidson set a $14.00 price target on SoundHound AI in a research note on Thursday, January 8th. HC Wainwright cut their price target on SoundHound AI from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of SoundHound AI in a research report on Friday, January 9th. Finally, Zacks Research raised SoundHound AI from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th.

SoundHound AI Stock Up 1.9%

Shares of SOUN opened at $6.97 on Wednesday. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -139.37 and a beta of 2.71. SoundHound AI has a 52-week low of $5.83 and a 52-week high of $22.17. The stock has a 50 day moving average price of $7.45 and a 200 day moving average price of $11.25.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $55.06 million during the quarter, compared to the consensus estimate of $53.88 million. SoundHound AI had a negative return on equity of 3.63% and a negative net margin of 8.71%.The company’s revenue was up 59.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts anticipate that SoundHound AI will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Majid Emami sold 31,019 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $6.79, for a total value of $210,619.01. Following the transaction, the senior vice president directly owned 501,826 shares in the company, valued at $3,407,398.54. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Ming Hom sold 31,019 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $6.79, for a total value of $210,619.01. Following the sale, the insider owned 772,364 shares in the company, valued at approximately $5,244,351.56. The trade was a 3.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 307,973 shares of company stock worth $2,091,110. Corporate insiders own 9.17% of the company’s stock.

Institutional Trading of SoundHound AI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC bought a new stake in shares of SoundHound AI in the 4th quarter worth $110,000. Rockefeller Capital Management L.P. raised its stake in shares of SoundHound AI by 3.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 179,327 shares of the company’s stock worth $1,788,000 after buying an additional 6,096 shares in the last quarter. SHP Wealth Management bought a new stake in shares of SoundHound AI in the 4th quarter worth $27,000. Virtu Financial LLC raised its stake in shares of SoundHound AI by 43.9% in the 4th quarter. Virtu Financial LLC now owns 219,773 shares of the company’s stock worth $2,191,000 after buying an additional 67,088 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its stake in shares of SoundHound AI by 143.0% in the 4th quarter. Alpine Woods Capital Investors LLC now owns 50,742 shares of the company’s stock worth $506,000 after buying an additional 29,857 shares in the last quarter. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Company Profile

SoundHound AI, Inc is a voice AI and conversational intelligence company specializing in speech recognition, natural language understanding and sound identification technologies. Founded in 2005 and headquartered in Santa Clara, California, the company initially gained recognition with its music discovery app before pivoting to enterprise-grade voice AI solutions. Over the years, SoundHound AI has built a comprehensive platform that enables developers and businesses to embed conversational intelligence into a wide range of products and services.

The company’s core offering is the Houndify voice AI platform, which provides customizable speech-to-meaning technology, domain-specific natural language understanding and text-to-speech capabilities.