SoundHound AI (NASDAQ:SOUN) Price Target Increased to $9.00 by Analysts at Wedbush

SoundHound AI (NASDAQ:SOUNFree Report) had its price target boosted by Wedbush from $5.00 to $9.00 in a report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for SoundHound AI’s Q1 2025 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.06) EPS, Q3 2025 earnings at ($0.05) EPS and Q4 2025 earnings at ($0.05) EPS.

Several other equities analysts have also weighed in on the stock. HC Wainwright restated a buy rating and set a $5.00 price target on shares of SoundHound AI in a research report on Monday, December 11th. DA Davidson increased their target price on shares of SoundHound AI from $5.00 to $7.50 and gave the stock a buy rating in a research report on Friday. LADENBURG THALM/SH SH began coverage on shares of SoundHound AI in a research report on Tuesday, January 30th. They set a buy rating and a $4.00 target price for the company. Northland Securities reiterated a market perform rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Finally, Cantor Fitzgerald cut their target price on shares of SoundHound AI from $4.20 to $3.60 and set an overweight rating for the company in a research report on Friday, November 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $6.66.

Check Out Our Latest Analysis on SOUN

SoundHound AI Price Performance

SOUN opened at $5.63 on Friday. The firm has a market cap of $1.39 billion, a P/E ratio of -14.42 and a beta of 2.84. The firm has a 50-day moving average of $2.74 and a 200 day moving average of $2.30. The company has a debt-to-equity ratio of 7.22, a quick ratio of 5.11 and a current ratio of 5.11. SoundHound AI has a fifty-two week low of $1.49 and a fifty-two week high of $7.91.

SoundHound AI (NASDAQ:SOUNGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $17.10 million for the quarter, compared to the consensus estimate of $17.75 million. SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 8,707.83%. SoundHound AI’s quarterly revenue was up 80.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) EPS. On average, research analysts expect that SoundHound AI will post -0.27 EPS for the current year.

Insider Activity

In other news, insider James Ming Hom sold 17,077 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $2.20, for a total value of $37,569.40. Following the completion of the transaction, the insider now directly owns 557,295 shares in the company, valued at $1,226,049. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider James Ming Hom sold 17,077 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $2.20, for a total value of $37,569.40. Following the sale, the insider now directly owns 557,295 shares of the company’s stock, valued at $1,226,049. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric R. Ball sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the sale, the director now directly owns 530,250 shares in the company, valued at $2,651,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 347,448 shares of company stock worth $1,073,608. 21.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoundHound AI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY purchased a new stake in SoundHound AI in the second quarter valued at approximately $36,000. Royal Bank of Canada raised its stake in shares of SoundHound AI by 520.7% during the second quarter. Royal Bank of Canada now owns 8,690 shares of the company’s stock worth $40,000 after acquiring an additional 7,290 shares in the last quarter. Pekin Hardy Strauss Inc. purchased a new position in shares of SoundHound AI during the second quarter worth approximately $46,000. Cetera Investment Advisers purchased a new position in shares of SoundHound AI during the second quarter worth approximately $46,000. Finally, Two Sigma Securities LLC purchased a new position in shares of SoundHound AI during the first quarter worth approximately $28,000. 26.96% of the stock is owned by hedge funds and other institutional investors.

SoundHound AI Company Profile

(Get Free Report)

SoundHound AI, Inc develops 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.

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Analyst Recommendations for SoundHound AI (NASDAQ:SOUN)

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