Analysts Set SoundHound AI, Inc. (NASDAQ:SOUN) Target Price at $12.36

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $12.36.

Several equities analysts have recently issued reports on SOUN shares. Northland Securities boosted their target price 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 target on shares of SoundHound AI in a report on Monday, January 13th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush lifted their target price 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. Finally, Barclays reissued a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th.

Insider Activity at SoundHound AI

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.03, for a total value of $240,900.00. Following the sale, the director now directly owns 110,907 shares of the company’s stock, valued at approximately $890,583.21. The trade was a 21.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keyvan Mohajer sold 156,288 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $20.20, for a total value of $3,157,017.60. Following the transaction, the chief executive officer now owns 2,021,666 shares of the company’s stock, valued at $40,837,653.20. The trade was a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,752,918 shares of company stock valued at $45,176,843 in the last three months. Company insiders own 12.28% of the company’s stock.

Institutional Investors Weigh In On SoundHound AI

A number of institutional investors have recently made changes to their positions in SOUN. Kieckhefer Group LLC bought a new position in shares of SoundHound AI in the 4th quarter worth approximately $3,432,000. Charles Schwab Investment Management Inc. raised its position in SoundHound AI by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after acquiring an additional 189,109 shares during the period. Oriental Harbor Investment Fund purchased a new position in shares of SoundHound AI during the 4th quarter worth $8,964,000. Geode Capital Management LLC grew its position in shares of SoundHound AI by 9.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,193,599 shares of the company’s stock valued at $33,529,000 after acquiring an additional 602,311 shares during the period. Finally, Wealth Effects LLC purchased a new stake in shares of SoundHound AI in the 4th quarter worth $357,000. Hedge funds and other institutional investors own 19.28% of the company’s stock.

SoundHound AI Stock Down 1.4 %

NASDAQ SOUN opened at $10.91 on Friday. The business’s 50-day moving average is $16.38 and its 200 day moving average is $9.67. The stock has a market capitalization of $4.29 billion, a PE ratio of -30.31 and a beta of 2.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. SoundHound AI has a 1 year low of $3.46 and a 1 year high of $24.98.

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.