SoundHound AI, Inc. (NASDAQ:SOUN – Free Report) – Equities research analysts at HC Wainwright issued their Q3 2023 earnings per share estimates for SoundHound AI in a research report issued on Tuesday, September 5th. HC Wainwright analyst S. Buck expects that the company will post earnings per share of ($0.10) for the quarter. HC Wainwright currently has a “Buy” rating and a $5.00 price target on the stock. The consensus estimate for SoundHound AI’s current full-year earnings is ($0.38) per share. HC Wainwright also issued estimates for SoundHound AI’s Q4 2023 earnings at ($0.07) EPS, FY2023 earnings at ($0.38) EPS, Q1 2024 earnings at ($0.09) EPS, Q2 2024 earnings at ($0.09) EPS, Q3 2024 earnings at ($0.08) EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at ($0.31) EPS.
Separately, Cantor Fitzgerald decreased their target price on SoundHound AI from $6.20 to $4.20 and set an “overweight” rating for the company in a research report on Wednesday, August 9th.
SoundHound AI Stock Performance
NASDAQ:SOUN opened at $2.34 on Thursday. The company has a debt-to-equity ratio of 4.80, a current ratio of 4.70 and a quick ratio of 4.70. The business has a fifty day simple moving average of $2.83 and a two-hundred day simple moving average of $2.82. SoundHound AI has a 1 year low of $0.93 and a 1 year high of $5.11. The company has a market capitalization of $563.26 million, a P/E ratio of -4.43 and a beta of 0.67.
SoundHound AI (NASDAQ:SOUN – Get Free Report) last released its earnings results on Tuesday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $8.75 million during the quarter, compared to analysts’ expectations of $8.07 million. During the same period in the prior year, the business earned ($0.19) earnings per share. The business’s quarterly revenue was up 42.2% compared to the same quarter last year.
Insider Activity
In related news, CTO Timothy Stonehocker sold 50,000 shares of SoundHound AI stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the completion of the sale, the chief technology officer now owns 984,303 shares of the company’s stock, valued at $3,071,025.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider James Ming Hom sold 11,666 shares of SoundHound AI stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $3.66, for a total value of $42,697.56. Following the transaction, the insider now owns 373,537 shares in the company, valued at $1,367,145.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Timothy Stonehocker sold 50,000 shares of SoundHound AI stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $3.12, for a total value of $156,000.00. Following the completion of the transaction, the chief technology officer now owns 984,303 shares in the company, valued at approximately $3,071,025.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 479,909 shares of company stock worth $1,789,334. 21.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of SOUN. BlackRock Inc. increased its holdings in SoundHound AI by 415.4% during the 2nd quarter. BlackRock Inc. now owns 9,515,845 shares of the company’s stock valued at $43,297,000 after purchasing an additional 7,669,606 shares during the period. Geode Capital Management LLC boosted its position in shares of SoundHound AI by 145.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,719,882 shares of the company’s stock worth $12,375,000 after purchasing an additional 1,613,110 shares in the last quarter. State Street Corp boosted its position in shares of SoundHound AI by 517.0% in the 2nd quarter. State Street Corp now owns 2,716,747 shares of the company’s stock worth $12,361,000 after purchasing an additional 2,276,465 shares in the last quarter. No Street GP LP bought a new stake in shares of SoundHound AI in the 1st quarter worth approximately $5,520,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in SoundHound AI by 40.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,715,951 shares of the company’s stock valued at $7,808,000 after acquiring an additional 493,431 shares in the last quarter. Hedge funds and other institutional investors own 26.96% of the company’s stock.
SoundHound AI Company Profile
SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions SoundHound AI, Inc was founded in 2005 and is headquartered in Santa Clara, California.
Read More
- Five stocks we like better than SoundHound AI
- How to Invest in Cybersecurity
- These 3 Wood Stocks are about to go on Discount
- How to Invest in Hotel Stocks
- Same Coin, Different Sides: 2 Observability Stocks Reverse Ways
- What Are Utility Stocks? An Overview of the Utilities Sector
- 3 Stocks Awaiting Winter Winds of Opportunity
Receive News & Ratings for SoundHound AI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SoundHound AI and related companies with MarketBeat.com's FREE daily email newsletter.
