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.
Insider Transactions:
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.
Company Profile:
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.
