SoundHound AI, Inc. (NASDAQ:SOUN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $12.86.

A number of equities analysts have recently commented on SOUN shares. Northland Securities raised their price objective on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. DA Davidson lifted their price objective on SoundHound AI from $9.50 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald raised SoundHound AI to a “hold” rating in a report on Monday, February 24th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of SoundHound AI in a research report on Monday, March 3rd. Finally, Wedbush lifted their price objective on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a report on Monday, December 16th.

Insider Transactions at SoundHound AI

In other SoundHound AI news, insider James Ming Hom sold 28,388 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $9.90, for a total transaction of $281,041.20. Following the transaction, the insider now owns 689,652 shares of the company’s stock, valued at approximately $6,827,554.80. This represents a 3.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Timothy Stonehocker sold 27,714 shares of SoundHound AI stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $9.90, for a total value of $274,368.60. Following the completion of the sale, the chief technology officer now directly owns 768,867 shares of the company’s stock, valued at $7,611,783.30. This trade represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 500,565 shares of company stock worth $4,999,726. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Kieckhefer Group LLC acquired a new position in SoundHound AI in the fourth quarter valued at approximately $3,432,000. Charles Schwab Investment Management Inc. boosted its position in shares of SoundHound AI by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after purchasing an additional 189,109 shares during the last quarter. Oriental Harbor Investment Fund acquired a new stake in shares of SoundHound AI during the fourth quarter worth $8,964,000. Geode Capital Management LLC increased its holdings in SoundHound AI by 9.1% in the third quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after purchasing an additional 602,311 shares during the last quarter. Finally, Wealth Effects LLC acquired a new stake in shares of SoundHound AI in the 4th quarter valued at approximately $357,000. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Stock Down 11.8 %

Shares of SOUN opened at $7.32 on Friday. SoundHound AI has a 52 week low of $3.50 and a 52 week high of $24.98. The firm has a market capitalization of $2.92 billion, a P/E ratio of -20.33 and a beta of 2.62. The company has a 50-day simple moving average of $11.03 and a 200-day simple moving average of $10.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.58). The firm had revenue of $34.54 million during the quarter, compared to the consensus estimate of $33.70 million. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. On average, equities research analysts expect that SoundHound AI will post -0.38 earnings per share for the current year.

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.