SoundHound AI’s (SOUN) Neutral Rating Reiterated at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH restated their neutral rating on shares of SoundHound AI (NASDAQ:SOUN) in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have a $7.00 price target on the stock.

SOUN has been the topic of a number of other reports. Cantor Fitzgerald upgraded shares of SoundHound AI from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.00 to $7.00 in a research report on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research note on Thursday, September 26th. DA Davidson reaffirmed a “buy” rating and set a $9.50 price objective on shares of SoundHound AI in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, September 18th. Finally, Northland Securities upped their price target on shares of SoundHound AI from $5.50 to $6.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.64.

SoundHound AI Trading Down 4.1 %

NASDAQ:SOUN opened at $6.36 on Wednesday. The company has a current ratio of 2.58, a quick ratio of 8.77 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $5.30 and its 200 day moving average is $4.95. SoundHound AI has a 12 month low of $1.62 and a 12 month high of $10.25. The stock has a market capitalization of $2.28 billion, a PE ratio of -17.67 and a beta of 2.71.

SoundHound AI (NASDAQ:SOUN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. SoundHound AI had a negative return on equity of 55.58% and a negative net margin of 163.58%. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.02 million. During the same period in the prior year, the company earned ($0.09) EPS. The company’s quarterly revenue was up 88.7% compared to the same quarter last year. Sell-side analysts expect that SoundHound AI will post -0.36 earnings per share for the current year.

Insider Transactions at SoundHound AI

In other news, Director Lawrence Marcus sold 50,000 shares of SoundHound AI stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $5.02, for a total transaction of $251,000.00. Following the completion of the transaction, the director now directly owns 74,038 shares in the company, valued at approximately $371,670.76. This trade represents a 40.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keyvan Mohajer sold 63,544 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total value of $312,636.48. Following the completion of the sale, the chief executive officer now owns 2,299,148 shares in the company, valued at $11,311,808.16. The trade was a 2.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,275 shares of company stock valued at $1,606,644. Company insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On SoundHound AI

Several hedge funds have recently added to or reduced their stakes in SOUN. Kings Path Partners LLC bought a new position in shares of SoundHound AI during the second quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in SoundHound AI during the 2nd quarter valued at about $31,000. NBC Securities Inc. raised its holdings in SoundHound AI by 97.8% in the third quarter. NBC Securities Inc. now owns 7,720 shares of the company’s stock worth $35,000 after buying an additional 3,818 shares during the last quarter. Amalgamated Bank raised its holdings in SoundHound AI by 108.0% in the second quarter. Amalgamated Bank now owns 9,819 shares of the company’s stock worth $39,000 after buying an additional 5,099 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of SoundHound AI by 27.3% in the second quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $41,000 after buying an additional 2,200 shares in the last quarter. 19.28% of the stock is owned by institutional investors.

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.