Brokerages Set SoundHound AI, Inc. (NASDAQ:SOUN) Price Target at $12.86
SoundHound AI, Inc. has garnered a "Hold" rating from seven ratings firms, according to Marketbeat.com. Out of the seven analysts, four have given the stock a hold rating while three have issued a buy rating. The average 12-month price target for the company is still under review.
SoundHound AI, Inc. (NASDAQ:SOUN) Ratings and Price Targets
SoundHound AI, Inc. (NASDAQ:SOUN) has received an average rating of “Hold” from the seven ratings firms that are covering the company, as reported by Marketbeat.com. Four investment analysts have rated the stock as a hold, while three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.86.
Analysts' Ratings and Recommendations
A number of research analysts have weighed in on the stock. Cantor Fitzgerald raised shares of SoundHound AI to a “hold” rating in a research report on Monday, February 24th. Northland Securities increased their price target on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating on Tuesday, January 14th. Wedbush boosted their price target on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of SoundHound AI on Monday, March 3rd. Finally, DA Davidson raised their price target on SoundHound AI from $9.50 to $13.00 and gave the stock a “buy” rating on Friday, February 28th.
Insider Buying and Selling
In SoundHound AI news, CTO Timothy Stonehocker sold 3,333 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $10.08, for a total transaction of $33,596.64. Also, VP Majid Emami sold 28,392 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $9.90, for a total transaction of $281,080.80. Insiders have sold a total of 500,565 shares of company stock worth $4,999,726 in the last 90 days. 12.28% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of SOUN. Vanguard Group Inc. raised its position in shares of SoundHound AI by 35.6% during the 4th quarter. Rockefeller Capital Management L.P., Invesco Ltd., Driehaus Capital Management LLC, and Capital Fund Management S.A. are among the institutional investors that own a significant portion of the company’s stock.
Stock Performance and Financials
SoundHound AI stock is currently trading at $7.60. The company has a market capitalization of $3.03 billion, a PE ratio of -21.11, and a beta of 2.73. The firm has a quick ratio of 2.58, a current ratio of 2.58, and a debt-to-equity ratio of 0.13. SoundHound AI reported negative earnings per share in the last quarter but exceeded revenue expectations. Analysts anticipate a negative EPS for the current year.
About SoundHound AI
SoundHound AI, Inc. develops independent voice artificial intelligence (AI) solutions for various industries. Its products include the Houndify platform, SoundHound Chat AI, and SoundHound Smart Answering, which are designed to offer conversational voice assistant solutions.