SoundHound AI (SOUN:NSD), is set to release its earnings report after the market closes on Thursday, May 11th. According to analysts, the company is expected to post a loss of ($0.10) per SOUN stock share for the quarter.
Previous Quarter Earnings:
In the previous quarter, SoundHound AI reported earnings per share of ($0.15), beating analysts’ expectations by $0.02. The company’s revenue for the quarter was $9.50 million, higher than analysts’ estimates of $8.96 million. The consensus among analysts is that SoundHound AI will post $0 in earnings per share for the current fiscal year and the next fiscal year.
SOUN Stock Price Analysis:
As of Thursday, May 11th, SoundHound stock price had fallen by 2.1%, opening at $2.33. The company’s 52-week low is $0.93, and its 52-week high is $16.88. Its 50-day and 200-day moving averages are $2.54 and $2.18, respectively. SoundHound AI’s market capitalization is $512.39 million, and it has a price-to-earnings ratio of -0.94 and a beta of 0.49.
In recent news, insider activity has been reported, with CTO Timothy Stonehocker selling 15,000 shares of the SOUN stock on Monday, February 6th, at an average price of $3.77. The sale was worth $56,550.00, and Stonehocker now owns 1,055,380 shares in SoundHound AI, valued at $3,978,782.60.
VP Majid Emami also sold 33,612 shares of the company’s stock on Thursday, March 9th, at an average price of $2.48. The sale was worth $83,357.76, and Emami now owns 381,388 shares in SoundHound AI, valued at $945,842.24. Insiders have sold a total of 293,827 shares of SOUN stock, worth $739,193, in the last three months.
Currently, 23.20% of the stock is owned by insiders.
Hedge Funds & Institutional Holdings:
Hedge funds have recently made changes to their positions in SoundHound AI. Vanguard Group Inc. raised its position in the company’s stock by 2.8% in the third quarter, owning 1,598,194 shares valued at $5,242,000.
Geode Capital Management LLC raised its position in the company’s stock by 0.8% in the fourth quarter, owning 1,059,805 shares valued at $1,875,000.
Charles Schwab Investment Management Inc. raised its position in the company’s stock by 1.4% in the fourth quarter, owning 575,219 shares valued at $1,018,000.
State Street Corp. raised its position in the company’s stock by 63.5% in the third quarter, owning 351,382 shares valued at $1,153,000.
Northern Trust Corp. also purchased a new position in SoundHound AI during the second quarter, worth about $512,000.
In total, institutional investors and hedge funds own 8.72% of SoundHound stock.
SOUN Stock-Analyst Ratings:
Several brokerages have commented on SoundHound AI, with Northland Securities cutting its price target from $6.00 to $4.50. Cantor Fitzgerald, on the other hand, raised its price target on SOUN stock from $1.60 from $3.20.
SoundHound AI, Inc. develops an 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.