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

SoundHound AI (NASDAQ:SOUN) is expected to announce its earnings results 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. Individual that wish to register for the company’s earnings conference call can do so using this link.

SoundHound AI Stock Down 8.5 %

Shares of NASDAQ SOUN opened at $9.43 on Tuesday. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -26.19 and a beta of 2.56. The company has a current ratio of 2.58, a quick 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 stock has a 50-day moving average price of $16.04 and a two-hundred day moving average price of $9.82.

Insider Activity

In other SoundHound AI news, CEO Keyvan Mohajer sold 465,394 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at approximately $34,579,185.92. The trade was a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Timothy Stonehocker sold 34,407 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total transaction of $698,462.10. Following the sale, the chief technology officer now directly owns 796,581 shares of the company’s stock, valued at approximately $16,170,594.30. This trade represents a 4.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,722,918 shares of company stock valued at $44,935,943 in the last ninety days. 12.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SOUN. Barclays reissued a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Northland Securities lifted their price target on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a report on Monday, January 13th. LADENBURG THALM/SH SH reissued a “neutral” rating and set a $7.00 target price on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Wedbush raised their price target on shares of SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, SoundHound AI presently has an average rating of “Hold” and a consensus target price of $12.36.

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.