In the latest trading session, 18.27 million SoundHound AI Inc (NASDAQ:SOUN) shares changed hands as the company’s beta touched 3.05. With the company’s most recent per share price at $5.26 changed hands at -$0.24 or -4.36% at last look, the market valuation stands at $1.89B. SOUN’s current price is a discount, trading about -94.87% off its 52-week high of $10.25. The share price had its 52-week low at $1.49, which suggests the last value was 71.67% up since then. When we look at SoundHound AI Inc’s average trading volume, we note the 10-day average is 20.66 million shares, with the 3-month average coming to 17.99 million.

Analysts gave the SoundHound AI Inc (SOUN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.29. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended SOUN as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. SoundHound AI Inc’s EPS for the current quarter is expected to be -0.07.

SoundHound AI Inc (NASDAQ:SOUN) trade information

Instantly SOUN was in red as seen in intraday trades today. With action 1.35%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 148.11%, with the 5-day performance at 1.35% in the green. However, in the 30-day time frame, SoundHound AI Inc (NASDAQ:SOUN) is 5.84% up. Looking at the short shares, we see there were 78.33 million shares sold at short interest cover period of 6.41 days.

The consensus price target for the stock as assigned by Wall Street analysts is 8, meaning bulls need an upside of 34.25% from its recent market value. According to analyst projections, SOUN’s forecast low is 7 with 9.5 as the target high. To hit the forecast high, the stock’s price needs a -80.61% plunge from its current level, while the stock would need to soar -33.08% for it to hit the projected low.

SoundHound AI Inc (SOUN) estimates and forecasts

Data shows that the SoundHound AI Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 39.15% over the past 6 months, a 5.26% in annual growth rate that is considerably lower than the industry average of 14.60%. Year-over-year growth is forecast to reach 80.00% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 23.02M. 7 analysts are of the opinion that SoundHound AI Inc’s revenue for the current quarter will be 34.49M. The estimates for the next quarter sales put growth at 101.10%.

The 2024 estimates are for SoundHound AI Inc earnings to increase by 12.14%.

SOUN Dividends

SoundHound AI Inc is expected to release its next quarterly earnings report on 2024-Nov-07.

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

If we look at who the major shareholders are, we find that insiders hold 2.32% of SoundHound AI Inc shares while 27.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 28.60%. There are 27.93% institutions holding the SoundHound AI Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 7.9168% of the shares, roughly 22.69 million SOUN shares worth $89.62 million.

BLACKROCK INC. holds the second largest percentage of outstanding shares, with 7.4821% or 21.44 million shares worth $84.7 million as of 2024-06-30.

Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 9.47 shares estimated at $49.82 million under it, the former controlled 2.91% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.35% of the shares, roughly 7.65 shares worth around $40.25 million.