SoundHound AI Inc (NASDAQ:SOUN)’s traded shares stood at 4.26 million during the latest session, with the company’s beta value hitting 3.05. At the last check today, the stock’s price was $5.09, to imply an increase of 2.25% or $0.11 in intraday trading. The SOUN share’s 52-week high remains $10.25, putting it -101.38% down since that peak but still an impressive 70.73% since price per share fell to its 52-week low of $1.49. The company has a valuation of $1.83B, with an average of 24.26 million shares in intraday trading volume over the past 10 days and average of 18.28 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for SoundHound AI Inc (SOUN), translating to a mean rating of 1.29. Of 5 analyst(s) looking at the stock, 0 analyst(s) give SOUN a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 4 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.07.
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SoundHound AI Inc (NASDAQ:SOUN) trade information
After registering a 2.25% upside in the latest session, SoundHound AI Inc (SOUN) has traded red over the past five days. The 5-day price performance for the stock is -2.64%, and 4.13% over 30 days. With these gigs, the year-to-date price performance is 140.19%. Short interest in SoundHound AI Inc (NASDAQ:SOUN) saw shorts transact 78.33 million shares and set a 6.41 days time to cover.
The extremes give us $7 and $9.5 for target low and target high price respectively. As such, SOUN has been trading -86.64% off suggested target high and -37.52% from its likely low.
SoundHound AI Inc (SOUN) estimates and forecasts
Looking at statistics comparing SoundHound AI Inc share performance against respective industry, we note that the company has underperformed competitors. SoundHound AI Inc (SOUN) shares are 22.40% up over the last 6 months, with its year-to-date growth rate lower than industry average at 5.26% against 14.30%. Revenue is forecast to grow 22.20% this quarter before jumping 14.30% for the next one. The rating firms project that company’s revenue will grow 80.00% compared to the previous financial year.
Revenue forecast for the current quarter as set by 7 analysts is 23.02M. Meanwhile, for the current quarter, a total of 7 analyst(s) estimate revenue growth to 34.49M.
SOUN Dividends
SoundHound AI Inc has its next earnings report out on 2024-Nov-12. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
SoundHound AI Inc insiders hold 2.32% of total outstanding shares, with institutional holders owning 28.03% of the shares at 28.70% float percentage. In total, 28.03% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 22.69 million shares (or 7.9168% of shares), all amounting to roughly $89.62 million.
The next major institution holding the largest number of shares is BLACKROCK INC. with 21.44 million shares, or about 7.4821% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $84.7 million.
We also have Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the SoundHound AI Inc (SOUN) shares. Going by data provided on Jun 30, 2024, Vanguard Total Stock Market Index Fund holds roughly 9.47 shares. This is just over 2.91% of the total shares, with a market valuation of $48.78 million. Data from the same date shows that the other fund manager holds a little less at 7.65, or 2.35% of the shares, all valued at about 39.41 million.
