SoundHound AI (SOUN) Projected to Post Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) is expected to be releasing its earnings data after the market closes on Thursday, February 27th. Analysts expect SoundHound AI to post earnings of ($0.11) per share and revenue of $33.70 million for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

SoundHound AI Stock Performance

Shares of SOUN opened at $8.90 on Wednesday. The firm has a market cap of $3.50 billion, a PE ratio of -24.72 and a beta of 2.56. SoundHound AI has a 1 year low of $3.50 and a 1 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 stock’s fifty day moving average price is $15.83 and its two-hundred day moving average price is $9.85.

Insiders Place Their Bets

In related news, VP Majid Emami sold 37,459 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $20.30, for a total value of $760,417.70. Following the completion of the sale, the vice president now owns 698,226 shares in the company, valued at approximately $14,173,987.80. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Keyvan Mohajer sold 465,394 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $15.04, for a total transaction of $6,999,525.76. Following the sale, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at approximately $34,579,185.92. The trade was a 16.83 % 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 valued at $44,935,943 in the last three months. Corporate insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

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

About SoundHound AI

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.