SoundHound AI (SOUN) to Release Earnings on Tuesday

SoundHound AI (NASDAQ:SOUN) will release its earnings data after the market closes on Tuesday, November 12th. Analysts expect SoundHound AI to post earnings of ($0.08) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, August 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). SoundHound AI had a negative return on equity of 93.28% and a negative net margin of 195.65%. The company had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $13.09 million. During the same period in the prior year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was up 53.8% on a year-over-year basis. 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 Price Performance

NASDAQ SOUN opened at $7.20 on Friday. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -18.46 and a beta of 2.71. The stock’s fifty day moving average price is $5.06 and its 200 day moving average price is $4.86. SoundHound AI has a 1 year low of $1.61 and a 1 year high of $10.25.

Insider Buying and Selling at SoundHound AI

In related news, insider James Ming Hom sold 21,024 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total value of $102,597.12. Following the completion of the transaction, the insider now owns 865,965 shares of the company’s stock, valued at approximately $4,225,909.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Lawrence Marcus sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the sale, the director now owns 74,038 shares of the company’s stock, valued at $371,670.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Ming Hom sold 21,024 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $102,597.12. Following the transaction, the insider now owns 865,965 shares of the company’s stock, valued at approximately $4,225,909.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,275 shares of company stock valued at $1,606,644. Corporate insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SOUN shares. Wedbush restated an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Thursday, September 26th. DA Davidson reaffirmed a “buy” rating and issued a $9.50 price objective on shares of SoundHound AI in a report on Monday, September 30th. Northland Securities raised their target price on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Cantor Fitzgerald raised shares of SoundHound AI from a “neutral” rating to an “overweight” rating and upped their price target for the company from $5.00 to $7.00 in a report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.08.

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.