SoundHound AI (SOUN) to Release Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) is projected to announce its earnings results after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.11) per share and revenue of $33.73 million for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

SoundHound AI Trading Down 1.4 %

Shares of SOUN opened at $10.91 on Friday. The firm has a market cap of $4.29 billion, a P/E ratio of -30.31 and a beta of 2.56. SoundHound AI has a fifty-two week low of $3.46 and a fifty-two week high of $24.98. 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 business has a 50-day moving average of $16.38 and a 200 day moving average of $9.67.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, Director Lawrence Marcus sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the sale, the director now owns 108,117 shares in the company, valued at $2,213,154.99. This trade represents a 15.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Timothy Stonehocker sold 34,407 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $698,462.10. Following the completion of the transaction, the chief technology officer now owns 796,581 shares of the company’s stock, valued at $16,170,594.30. The trade was a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,752,918 shares of company stock valued at $45,176,843 in the last 90 days. Corporate insiders own 12.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SOUN shares. Northland Securities upped their price target on shares of SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. Wedbush raised their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th. Finally, Barclays reiterated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.36.

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.