Brokerages Set SoundHound AI, Inc. (NASDAQ:SOUN) Target Price at $12.36

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $12.36.

SOUN has been the topic of several research analyst reports. Wedbush raised their target price on shares of SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. DA Davidson restated a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a research note on Monday, September 30th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research report on Monday, January 13th. Finally, Northland Securities raised their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Tuesday, January 14th.

SoundHound AI Stock Down 0.8 %

Shares of NASDAQ SOUN opened at $16.38 on Monday. SoundHound AI has a 52-week low of $1.62 and a 52-week high of $24.98. The business has a fifty day moving average of $14.52 and a two-hundred day moving average of $8.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market cap of $6.06 billion, a PE ratio of -45.50 and a beta of 2.63.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.02 million. SoundHound AI had a negative net margin of 163.58% and a negative return on equity of 55.58%. SoundHound AI’s revenue was up 88.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, equities research analysts expect that SoundHound AI will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Keyvan Mohajer sold 465,394 shares of SoundHound AI stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the completion of the transaction, the chief executive officer now owns 2,299,148 shares in the company, valued at approximately $34,579,185.92. This trade represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Majid Emami sold 37,459 shares of SoundHound AI stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $760,417.70. Following the transaction, the vice president now owns 698,226 shares of the company’s stock, valued at $14,173,987.80. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,782,918 shares of company stock valued at $45,391,343 in the last quarter. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On SoundHound AI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOUN. Sound Income Strategies LLC boosted its holdings in shares of SoundHound AI by 2,542.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after buying an additional 1,271 shares during the period. NBC Securities Inc. boosted its holdings in shares of SoundHound AI by 97.8% during the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after acquiring an additional 3,818 shares during the period. Amalgamated Bank boosted its holdings in shares of SoundHound AI by 108.0% during the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after acquiring an additional 5,099 shares during the period. Future Financial Wealth Managment LLC bought a new stake in SoundHound AI in the 4th quarter valued at $40,000. Finally, Farther Finance Advisors LLC boosted its stake in SoundHound AI by 298.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,966 shares of the company’s stock valued at $42,000 after purchasing an additional 6,716 shares during the period. 19.28% of the stock is 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.