SoundHound AI (NASDAQ:SOUN) Raised to Hold at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of SoundHound AI (NASDAQ:SOUN) to a hold rating in a report published on Monday,Zacks.com reports.

A number of other analysts have also commented on the stock. LADENBURG THALM/SH SH reiterated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $26.00 price objective on shares of SoundHound AI in a research report on Monday, January 13th. Northland Securities upped their target price on shares of SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Tuesday, January 14th. Barclays reaffirmed a “neutral” rating and set a $7.00 price objective on shares of SoundHound AI in a report on Wednesday, November 13th. Finally, Wedbush boosted their target price on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.36.

SoundHound AI Trading Down 8.5 %

NASDAQ:SOUN opened at $9.43 on Monday. SoundHound AI has a one year low of $3.50 and a one year high of $24.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.58 and a quick ratio of 2.58. The company’s 50-day simple moving average is $16.04 and its 200 day simple moving average is $9.82. The firm has a market capitalization of $3.71 billion, a P/E ratio of -26.19 and a beta of 2.56.

Insider Buying and Selling

In other SoundHound AI news, VP Majid Emami sold 94,067 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $9.05, for a total value of $851,306.35. Following the sale, the vice president now directly owns 735,685 shares of the company’s stock, valued at approximately $6,657,949.25. This trade represents a 11.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keyvan Mohajer sold 156,288 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $20.20, for a total value of $3,157,017.60. Following the sale, the chief executive officer now owns 2,021,666 shares of the company’s stock, valued at approximately $40,837,653.20. This trade represents a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,722,918 shares of company stock worth $44,935,943 in the last 90 days. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On SoundHound AI

A number of hedge funds have recently made changes to their positions in SOUN. Creative Planning purchased a new position in SoundHound AI in the third quarter worth approximately $91,000. Sequoia Financial Advisors LLC increased its holdings in shares of SoundHound AI by 40.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 29,133 shares of the company’s stock valued at $136,000 after purchasing an additional 8,450 shares in the last quarter. Signaturefd LLC boosted its position in SoundHound AI by 19.5% during the third quarter. Signaturefd LLC now owns 12,255 shares of the company’s stock worth $57,000 after purchasing an additional 2,000 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of SoundHound AI by 914.6% during the 3rd quarter. International Assets Investment Management LLC now owns 80,152 shares of the company’s stock worth $374,000 after purchasing an additional 72,252 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in SoundHound AI by 2,198.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 88,111 shares of the company’s stock valued at $411,000 after purchasing an additional 84,278 shares during the last quarter. Hedge funds and other institutional investors own 19.28% of the company’s stock.

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.