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The SoundHound AI Inc. (NASDAQ: SOUN) Stock Jumped 31.86% In A Single Month – Are There Any Hopes For A Gain?

During the last session, SoundHound AI Inc. (NASDAQ:SOUN)’s traded shares were 8.87 million. At the end of the trading day, the stock’s price was $2.98, reflecting an intraday gain of 1.71% or $0.05. The 52-week high for the SOUN share is $8.73, that puts it down -192.95 from that peak though still a striking 68.79% gain since the share price plummeted to a 52-week low of $0.93. The company’s market capitalization is $670.23M, and the average intraday trading volume over the past 10 days was 9.71 million shares, and the average trade volume was 11.01 million shares over the past three months.

SoundHound AI Inc. (NASDAQ:SOUN) trade information

SoundHound AI Inc. (SOUN) registered a 1.71% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.71% in intraday trading to $2.98 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 12.03%, and it has moved by 31.86% in 30 days. Based on these gigs, the overall price performance for the year is -42.02%. The short interest in SoundHound AI Inc. (NASDAQ:SOUN) is 16.58 million shares and it means that shorts have 1.18 day(s) to cover.

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SoundHound AI Inc. (SOUN) estimates and forecasts

Statistics show that SoundHound AI Inc. has outperformed its competitors in share price, compared to the industry in which it operates. SoundHound AI Inc. (SOUN) shares have gone up 83.95% during the last six months, with a year-to-date growth rate more than the industry average at 46.58% against 9.10. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 42.10% this quarter and then jump 46.70% in the quarter after that. In the rating firms’ projections, revenue will increase 45.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $8.06 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $12.96 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $6.15 million and $11.19 million respectively. In this case, analysts expect current quarter sales to grow by 31.00% and then jump by 15.90% in the coming quarter.

While earnings are projected to return -80.90% in 2023.

SOUN Dividends

SoundHound AI Inc. is due to release its next quarterly earnings on May 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

SoundHound AI Inc. (NASDAQ:SOUN)’s Major holders

SoundHound AI Inc. insiders own 21.28% of total outstanding shares while institutional holders control 13.56%, with the float percentage being 17.23%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 46 institutions own stock in it. As of Mar 30, 2023, the company held over 6.52 million shares (or 3.68% of all shares), a total value of $17.98 million in shares.

The next largest institutional holding, with 3.2 million shares, is of Anchorage Capital Group, LLC’s that is approximately 1.80% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $8.83 million.

Also, the Mutual Funds coming in first place with the largest holdings of SoundHound AI Inc. (SOUN) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 4.66 million shares. This amounts to just over 2.59 percent of the company’s overall shares, with a $8.25 million market value. The same data shows that the other fund manager holds slightly less at 1.57 million, or about 0.87% of the stock, which is worth about $2.78 million.

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