SoundHound AI, Inc. (NASDAQ:SOUN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $14.3571.

A number of research firms recently commented on SOUN. Northland Securities raised SoundHound AI from a “market perform” rating to an “outperform” rating and set a $14.50 target price on the stock in a research note on Friday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of SoundHound AI in a research note on Thursday, September 11th. Oppenheimer assumed coverage on SoundHound AI in a research note on Thursday, September 11th. They set a “market perform” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of SoundHound AI in a research note on Wednesday, September 17th. Finally, Northland Capmk raised SoundHound AI from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 8th.

Insider Buying and Selling

In related news, VP Majid Emami sold 36,185 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $17.86, for a total value of $646,264.10. Following the sale, the vice president directly owned 649,353 shares of the company’s stock, valued at $11,597,444.58. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Timothy Stonehocker sold 2,247 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $17.90, for a total value of $40,221.30. Following the completion of the sale, the chief technology officer directly owned 677,049 shares in the company, valued at $12,119,177.10. The trade was a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 495,196 shares of company stock valued at $8,068,135 over the last ninety days. Corporate insiders own 9.17% of the company’s stock.

Institutional Trading of SoundHound AI

Several large investors have recently modified their holdings of SOUN. Northwestern Mutual Wealth Management Co. grew its stake in shares of SoundHound AI by 83.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,336 shares of the company’s stock worth $25,000 after purchasing an additional 1,060 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of SoundHound AI by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 2,519 shares of the company’s stock worth $27,000 after purchasing an additional 1,023 shares during the last quarter. Investors Research Corp lifted its holdings in SoundHound AI by 62.4% in the third quarter. Investors Research Corp now owns 1,822 shares of the company’s stock worth $29,000 after buying an additional 700 shares during the period. AlphaQuest LLC purchased a new stake in SoundHound AI in the first quarter worth about $32,000. Finally, Huntington National Bank lifted its holdings in SoundHound AI by 48.8% in the second quarter. Huntington National Bank now owns 3,050 shares of the company’s stock worth $33,000 after buying an additional 1,000 shares during the period. 19.28% of the stock is owned by institutional investors.

SoundHound AI Stock Up 0.1%

SOUN opened at $17.85 on Friday. The stock has a market cap of $7.28 billion, a PE ratio of -28.33 and a beta of 2.60. SoundHound AI has a 52 week low of $4.56 and a 52 week high of $24.98. The business’s fifty day simple moving average is $14.03 and its 200 day simple moving average is $11.29.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). The firm had revenue of $42.68 million during the quarter, compared to the consensus estimate of $32.88 million. SoundHound AI had a negative net margin of 171.81% and a negative return on equity of 73.13%. The firm’s revenue was up 216.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.11) EPS. SoundHound AI has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that SoundHound AI will post -0.38 earnings per share for the current year.

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.