High Volume of SoundHound AI Stocks Purchased by Traders

SOUN Stock Plunges After Q4 Earnings Miss

SoundHound AI Inc. (SOUN) experienced an unusually high level of options trading activity on Tuesday, with investors purchasing 20,041 call options on the company. This significant increase of 99% compared to the average volume of 10,050 call options has caught the attention of market observers.

 

Analysts Raise Price Targets for SOUN

In a separate development, Cantor Fitzgerald, a prominent financial services firm, revised their price objective for SoundHound AI shares in a report issued on Wednesday. They increased the target from $3.77 to $4.18, suggesting optimism about the company’s future performance.

 

SoundHound AI’s Stock Performance

As of Thursday, SoundHound AI’s stock (SOUN) opened at $3.77. The company’s 50-day moving average stands at $2.81, while its two-hundred-day moving average is $2.38. With a market capitalization of $817.91 million, a price-to-earnings (PE) ratio of -6.08, and a beta of 0.49, SoundHound AI remains an intriguing prospect for investors. Over the past year, the stock has ranged from a low of $0.93 to a high of $4.97.

 

SOUN Stock Forecast & Stock Analysis

According to two analysts, the average target price for SoundHound AI (SOUN) over the next 12 months is $4.18. These analysts have rated the stock as “Strong Buy,” indicating their positive outlook for the company’s future performance. However, Stock Target Advisor, an independent stock analysis platform, has a bearish stance on SoundHound AI Inc, based on 2 positive signals and 7 negative signals.

SOUN Analyst Targets by Stock Target Advisor

As of the last closing, SoundHound AI stock was priced at $3.77. Over the past week, the stock has experienced a positive change of 24.83%, showing significant upward momentum. Looking at the past month, the stock has surged by 38.10%, further reinforcing its positive trajectory. Over the last year, SoundHound AI stock price has increased by 0.53%, highlighting a modest but steady growth trend.

 

SOUN Recent Earnings Report

On May 11th, SoundHound AI (SOUN) stock released its quarterly earnings results. In terms of revenue, SoundHound AI generated $6.71 million, surpassing analysts’ expectations of $6.54 million. Comparing to the same period the previous year, when the company reported earnings per share of ($2.00), SoundHound AI has shown significant improvement. Analysts on the sell-side anticipate that the company will achieve a yearly earnings per share of -0.39.

 

Conclusion

SoundHound AI has attracted notable options trading activity, indicating increased interest from investors. Analysts have responded by raising their price targets for the company, reflecting a positive outlook. With a diverse range of products and services in the AI space, SoundHound AI continues to capture attention in the market.

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