SoundHound AI (NASDAQ:SOUN) Upgraded to Hold at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of SoundHound AI (NASDAQ:SOUN) to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Wedbush increased their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. LADENBURG THALM/SH SH reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. 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. 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. Finally, HC Wainwright restated a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SoundHound AI presently has a consensus rating of “Hold” and an average target price of $12.36.

SoundHound AI Price Performance

NASDAQ:SOUN opened at $9.43 on Monday. SoundHound AI has a 12-month low of $3.50 and a 12-month high of $24.98. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -26.19 and a beta of 2.56. The stock’s 50 day moving average price is $16.04 and its two-hundred day moving average price is $9.82. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13.

Insider Buying and Selling at SoundHound AI

In related news, CEO Keyvan Mohajer sold 465,394 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $15.04, for a total value of $6,999,525.76. Following the sale, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at $34,579,185.92. This trade represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lawrence Marcus sold 20,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $20.47, for a total transaction of $409,400.00. Following the transaction, the director now owns 108,117 shares of the company’s stock, valued at $2,213,154.99. This trade represents a 15.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,722,918 shares of company stock valued at $44,935,943 in the last quarter. Company insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On SoundHound AI

Several large investors have recently modified their holdings of SOUN. Commons Capital LLC grew its stake in shares of SoundHound AI by 2.7% in the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock valued at $543,000 after buying an additional 723 shares during the period. ST Germain D J Co. Inc. lifted its position in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock valued at $60,000 after buying an additional 750 shares during the last quarter. Keynote Financial Services LLC raised its position in shares of SoundHound AI by 4.7% in the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock valued at $329,000 after purchasing an additional 752 shares during the period. Blue Trust Inc. lifted its position in shares of SoundHound AI by 197.6% during the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock worth $25,000 after acquiring an additional 830 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of SoundHound AI by 16.4% in the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after acquiring an additional 929 shares during the period. 19.28% of the stock is currently owned by institutional investors and hedge funds.

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.