SoundHound AI (SOUN) Projected to Post Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.11) per share and revenue of $33.70 million for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

SoundHound AI Stock Down 5.6 %

Shares of NASDAQ:SOUN opened at $8.90 on Wednesday. The firm has a market cap of $3.50 billion, a P/E ratio of -24.72 and a beta of 2.56. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI has a 12-month low of $3.50 and a 12-month high of $24.98. The business has a fifty day simple moving average of $15.83 and a 200 day simple moving average of $9.85.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a research report on Monday. Northland Securities lifted their price objective on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 14th. 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 reissued a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a research report on Wednesday, November 13th. Finally, 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, SoundHound AI has a consensus rating of “Hold” and an average price target of $12.36.

Insider Activity at SoundHound AI

In other SoundHound AI news, COO Michael Zagorsek sold 277,813 shares of SoundHound AI stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.25, for a total transaction of $5,903,526.25. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Majid Emami sold 94,067 shares of SoundHound AI stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $9.05, for a total value of $851,306.35. Following the transaction, the vice president now owns 735,685 shares of the company’s stock, valued at $6,657,949.25. This trade represents a 11.34 % decrease in their position. 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 three months. Corporate insiders own 12.28% of the company’s stock.

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.