In today’s recent session, 3.31 million shares of the SoundHound AI Inc (NASDAQ:SOUN) have been traded, and its beta is 3.06. Most recently the company’s share price was $4.61, and it changed around -$0.07 or -1.60% from the last close, which brings the market valuation of the company to $1.65B. SOUN at last check was trading at a discount to its 52-week high of $10.25, offering almost -122.34% off that amount. The share price’s 52-week low was $1.49, which indicates that the recent value has risen by an impressive 67.68% since then. We note from SoundHound AI Inc’s average daily trading volume that its 10-day average is 11.36 million shares, with the 3-month average coming to 22.58 million.
SoundHound AI Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.29. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended SOUN as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. SoundHound AI Inc is expected to report earnings per share of -0.07 for the current quarter.
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SoundHound AI Inc (NASDAQ:SOUN) trade information
Instantly SOUN has been showing red trend so far today with a performance of -1.60% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 4.83 on recent trading dayincreased the stock’s daily price by 4.55%. The company’s shares are currently up 117.22% year-to-date, but still down -2.64% over the last five days. On the other hand, SoundHound AI Inc (NASDAQ:SOUN) is 0.11% up in the 30-day period. We can see from the shorts that 78.5 million shares have been sold at a short interest cover period of 4.92 day(s).
The consensus price target as assigned by Wall Street analysts is $8, which translates to bulls needing to increase their stock price by 42.37% from its current value. Analyst projections state that SOUN is forecast to be at a low of $7 and a high of $9.5.
SoundHound AI Inc (SOUN) estimates and forecasts
SoundHound AI Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 2.11 percent over the past six months and at a 5.26% annual growth rate that is well below the industry average of 15.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 22.20% in revenue this quarter, and will report an increase of 14.30% in the next quarter. The year-over-year growth rate is expected to be 80.00%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of 23.02M in revenue for the current quarter. 7 analysts expect SoundHound AI Inc to make 34.49M in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 101.10%.
SOUN Dividends
SoundHound AI Inc’s next quarterly earnings report is expected to be released on 2024-Nov-07.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.32% of SoundHound AI Inc shares, and 27.61% of them are in the hands of institutional investors. The stock currently has a share float of 28.26%. SoundHound AI Inc stock is held by 333.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 7.9168% of the shares, which is about 22.69 million shares worth $89.62 million.
BLACKROCK INC., with 7.4821% or 21.44 million shares worth $84.7 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 30, 2024. The former held 9.47 shares worth $43.39 million, making up 2.91% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 7.66 shares worth around $35.09 million, which represents about 2.35% of the total shares outstanding.
