SoundHound AI, Inc. (NASDAQ:SOUN) Receives $12.36 Consensus PT from Analysts

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $12.36.

Several analysts have issued reports on SOUN shares. Northland Securities upped their target price on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of SoundHound AI in a research note on Monday, January 13th. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Barclays restated a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th.

Insider Activity

In related news, CTO Timothy Stonehocker sold 34,407 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $698,462.10. Following the transaction, the chief technology officer now owns 796,581 shares of the company’s stock, valued at $16,170,594.30. This represents a 4.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael Zagorsek sold 277,813 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.25, for a total value of $5,903,526.25. Following the sale, the chief operating officer now owns 1,473,322 shares in the company, valued at approximately $31,308,092.50. The trade was a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,782,918 shares of company stock valued at $45,391,343. Company insiders own 12.28% of the company’s stock.

Institutional Trading of SoundHound AI

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after acquiring an additional 830 shares in the last quarter. Sound Income Strategies LLC increased its stake in SoundHound AI by 2,542.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 1,271 shares during the last quarter. NBC Securities Inc. increased its stake in 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 last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoundHound AI in the fourth quarter valued at about $40,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in shares of SoundHound AI in the fourth quarter valued at about $40,000. 19.28% of the stock is currently owned by hedge funds and other institutional investors.

SoundHound AI Stock Down 28.1 %

Shares of NASDAQ:SOUN opened at $10.97 on Friday. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $16.62 and a two-hundred day moving average of $9.56. The stock has a market cap of $4.31 billion, a P/E ratio of -30.47 and a beta of 2.56. SoundHound AI has a 52-week low of $3.11 and a 52-week high of $24.98.

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.