In the last trading session, 67.91 million SoundHound AI Inc (NASDAQ:SOUN) shares changed hands as the company’s beta touched 3.15. With the company’s per share price at $7.77 changed hands at $0.57 or 7.92% during last session, the market valuation stood at $2.89B. SOUN’s last price was a discount, traded about -31.92% off its 52-week high of $10.25. The share price had its 52-week low at $1.61, which suggests the last value was 79.28% up since then. When we look at SoundHound AI Inc’s average trading volume, we note the 10-day average is 32.79 million shares, with the 3-month average coming to 19.56 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.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
SoundHound AI Inc (NASDAQ:SOUN) trade information
Instantly SOUN was in green as seen at the end of in last trading. With action 52.65%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 266.51%, with the 5-day performance at 52.65% in the green. However, in the 30-day time frame, SoundHound AI Inc (NASDAQ:SOUN) is 58.25% up. Looking at the short shares, we see there were 74.42 million shares sold at short interest cover period of 4.99 days.
The consensus price target for the stock as assigned by Wall Street analysts is 8, meaning bulls need an upside of 2.88% from its current 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 -22.27% plunge from its current level, while the stock would need to tank 9.91% 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 40.76% over the past 6 months, a 5.26% in annual growth rate that is considerably lower than the industry average of 13.40%. 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 in December.
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 28.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 28.88%. There are 28.21% 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.
