The stock of SoundHound AI Inc. (NASDAQ:SOUN) increased by $0.1 on Monday to finish at $2.42, up 4.31 percent. The last five days have seen an average of 12,701,580 shares of common stock traded. 9 times new highs were reached in the current year, with a gain of $0.65. The average number of shares traded over the last 20 days was 16,271,225, while the average volume over the last 50 days totaled 20,098,527.
SOUN stock appreciated 0.41% since last month. On 08/11/23, the company’s shares reached a one-month low of $1.80. The stock touched a high of $5.11 on 06/29/23, after rallying from a low of $0.93 in 52 weeks. The price of SOUN stock has risen by 36.72% or $0.65 this year, reaching a new high 9 times. Still, the stock price is down -52.64% from the 52-week high.
Insider Transactions
SOUN stock investors should be aware that SoundHound AI Inc. (SOUN) stock had its last reported insider trading activity 8 days ago on Aug 21. On Aug 21, Chief Technology Officer STONEHOCKER TIMOTHY sold 3,104 shares at $2.34 each. This transaction resulted in the insider making $7,267. On Jul 21, STONEHOCKER TIMOTHY sold 3,261 shares at a price of US$3.16. After the transaction, the insider now owns 806,864 shares. VP, Engineering EMAMI MAJID had earlier sold 68,333 shares on Jun 30 for $4.42 a share. The transaction was completed for $302,162.
Valuation Metrics
Beta for the stock is 0.38. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 15.79, the price-to-book (PB) ratio of 40.33.
Financial Health
For the three months ended June 29, SoundHound AI Inc.’s quick ratio was 4.70, while its current ratio was 4.70, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 4.82, and the total debt to equity ratio is 4.83. As far as profitability goes, gross margin for the trailing twelve months is 74.70% percent. Based on annual data, it had gross profit of $21.53 million and revenue of $31.13 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. SOUN’s return on assets (ROA) during the last 12 months has been -129.80%. In the meantime, the return on equity (ROE) for the last 12 months was 740.10%.
Earnings Surprise
According to SoundHound AI Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $8.75 million, while revenues rose by 29.71% to $6.71 million. It was predicted that SoundHound AI Inc.’s quarterly earnings would be -$0.1, but it ended up being -$0.11, beating the consensus by 9.10%. EBITDA was -$14.93 million for the quarter. At the end of SoundHound AI Inc.’s most recent quarter ended June 29, its liabilities totaled 118.79 million, while its total debt was $73.88 million. Equity owned by shareholders amounts to $240.71 million.
Technical Picture
Here’s a quick look at SoundHound AI Inc.’s (SOUN) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 53.77%, suggesting the stock is Neutral, with a 83.47% historical volatility rate.
The stochastic %K and %D were 69.70% and 70.85% respectively, while the average true range (ATR) was 0.25. Based on the 14-day stochastic reading of 80.52%, the RSI (14) reading is 48.69%. On the 9-day MACD Oscillator, the stock is at 0.01, and the 14-day reading is at 0.09.
Analyst Ratings
In its most recent analyst report, Cantor Fitzgerald raised its rating on SoundHound AI Inc. (NASDAQ: SOUN) to an Overweight. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned SoundHound AI Inc. (SOUN) an Buy rating. SOUN is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is SOUN’s price target for the next 12 months?
The current consensus forecast for the stock is between $4.00 and $7.00, with a median target price of $4.20. In analyzing these forecasts, the average price target given by analysts for SoundHound AI Inc. (SOUN) is $5.07.
