SoundHound AI (SOUN) to Release Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) will be issuing its quarterly earnings data after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.09) per share for the quarter. SoundHound AI has set its FY 2024 guidance at EPS and its FY 2025 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $17.10 million during the quarter, compared to analysts’ expectations of $17.75 million. SoundHound AI had a negative return on equity of 1,955.68% and a negative net margin of 188.57%. The business’s revenue for the quarter was up 80.0% on a year-over-year basis. During the same period last year, the company earned ($0.15) earnings per share. On average, analysts expect SoundHound AI to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoundHound AI Trading Down 5.2 %

Shares of SoundHound AI stock opened at $4.94 on Wednesday. SoundHound AI has a fifty-two week low of $1.49 and a fifty-two week high of $10.25. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.69 and a current ratio of 4.69. The company has a market capitalization of $1.53 billion, a P/E ratio of -12.67 and a beta of 2.87. The company has a fifty day moving average of $5.53 and a 200 day moving average of $3.35.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. DA Davidson lifted their price target on shares of SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a report on Friday, March 15th. Cantor Fitzgerald upgraded SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price for the company in a research report on Thursday, April 11th. Wedbush upped their target price on SoundHound AI from $5.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. HC Wainwright raised their price objective on SoundHound AI from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, Northland Securities restated a “market perform” rating on shares of SoundHound AI in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, SoundHound AI currently has a consensus rating of “Moderate Buy” and an average price target of $6.88.

Insider Buying and Selling

In other news, CEO Keyvan Mohajer sold 107,927 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $3.70, for a total value of $399,329.90. Following the completion of the sale, the chief executive officer now directly owns 1,218,712 shares in the company, valued at $4,509,234.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SoundHound AI news, Director Eric R. Ball sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $5.00, for a total value of $250,000.00. Following the completion of the transaction, the director now owns 530,250 shares in the company, valued at $2,651,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keyvan Mohajer sold 107,927 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $3.70, for a total value of $399,329.90. Following the transaction, the chief executive officer now directly owns 1,218,712 shares of the company’s stock, valued at $4,509,234.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 405,057 shares of company stock worth $2,587,804. Insiders own 21.30% of the company’s stock.

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.