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

Cantor Fitzgerald upgraded shares of SoundHound AI (NASDAQ:SOUN) to a hold rating in a research report report published on Monday morning,Zacks.com reports. Cantor Fitzgerald also issued estimates for SoundHound AI’s FY2024 earnings at ($0.37) EPS and FY2025 earnings at ($0.21) EPS.

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

SoundHound AI Stock Performance

SOUN opened at $9.57 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58. The company has a market cap of $3.76 billion, a PE ratio of -26.58 and a beta of 2.56. The stock has a 50-day moving average of $15.60 and a 200-day moving average of $9.84. SoundHound AI has a 52-week low of $3.50 and a 52-week high of $24.98.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, VP Majid Emami sold 94,067 shares of the company’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 completion of the transaction, the vice president now owns 735,685 shares of the company’s stock, valued at $6,657,949.25. This represents a 11.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric R. Ball sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the director now owns 451,756 shares of the company’s stock, valued at $5,421,072. This represents a 9.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,722,918 shares of company stock valued at $44,935,943 in the last ninety days. Company insiders own 12.28% of the company’s stock.

Institutional Trading of SoundHound AI

A number of institutional investors and hedge funds have recently modified their holdings of SOUN. Commons Capital LLC boosted its stake in SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after buying an additional 723 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of SoundHound AI by 33.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after acquiring an additional 750 shares during the period. Keynote Financial Services LLC boosted its position in shares of SoundHound AI by 4.7% during the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock valued at $329,000 after acquiring an additional 752 shares in the last quarter. Blue Trust Inc. boosted its position in shares of SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after acquiring an additional 830 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in SoundHound AI by 16.4% in the fourth quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after acquiring an additional 929 shares during the period. 19.28% of the stock is currently owned by institutional investors.

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.