Why SoundHound AI Inc (NASDAQ: SOUN) Stock Should Not Be Discarded By Investors In 2024

In the last trading session, 21.9 million shares of the SoundHound AI Inc (NASDAQ:SOUN) were traded, and its beta was 3.33. Most recently the company’s share price was $3.55, and it changed around -$0.28 or -7.31% from the last close, which brings the market valuation of the company to $1.10B. SOUN currently trades at a discount to its 52-week high of $10.25, offering almost -188.73% off that amount. The share price’s 52-week low was $1.49, which indicates that the current value has risen by an impressive 58.03% since then. We note from SoundHound AI Inc’s average daily trading volume that its 3-month average coming to 62.80 million.

SoundHound AI Inc (NASDAQ:SOUN) trade information

Instantly SOUN has showed a red trend with a performance of -7.31% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 67.45% year-to-date, but still down -18.95% over the last five days. On the other hand, SoundHound AI Inc (NASDAQ:SOUN) is -55.23% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $7.2, which translates to bulls needing to increase their stock price by 50.69% from its current value. Analyst projections state that SOUN is forecast to be at a low of $4.9 and a high of $9.5.

SoundHound AI Inc (SOUN) estimates and forecasts

SoundHound AI Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 99.44 percent over the past six months and at a 21.05% annual growth rate that is well above the industry average of 11.60%.