SoundHound AI (SOUN) to Release Earnings on Tuesday

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

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

Shares of SOUN stock opened at $5.21 on Tuesday. SoundHound AI has a twelve month low of $1.61 and a twelve month high of $10.25. The stock’s fifty day simple moving average is $4.95 and its 200 day simple moving average is $4.80.

Insider Transactions 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 transaction of $102,597.12. Following the sale, the insider now owns 865,965 shares in the company, valued at $4,225,909.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Timothy Stonehocker sold 20,337 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 $99,244.56. Following the sale, the chief technology officer now owns 1,039,194 shares in the company, valued at $5,071,266.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Ming Hom sold 21,024 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total value of $102,597.12. Following the sale, the insider now owns 865,965 shares in the company, valued at approximately $4,225,909.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,275 shares of company stock valued at $1,606,644. Corporate insiders own 12.28% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SOUN shares. Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. DA Davidson restated a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a research report on Monday, September 30th. Northland Securities upped their price target on SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Wedbush restated an “outperform” rating and set a $9.00 price objective on shares of SoundHound AI in a research report on Thursday, September 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.