SoundHound AI Inc (NASDAQ:SOUN)’s traded shares stood at 192.04 million during the last session, with the company’s beta value hitting 3.41. At the close of trading, the stock’s price was $13.33, to imply an increase of 31.33% or $3.18 in intraday trading. The SOUN share’s 52-week high remains $10.25, putting it 23.11% up since that peak but still an impressive 87.85% since price per share fell to its 52-week low of $1.62. The company has a valuation of $4.93B, with an average of 59.03 million shares in intraday trading volume over the past 10 days and average of 29.30 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 1.67. 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 -0.08.
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SoundHound AI Inc (NASDAQ:SOUN) trade information
After registering a 31.33% upside in the last session, SoundHound AI Inc (SOUN) has traded red over the past five days. The 5-day price performance for the stock is 69.16%, and 148.23% over 30 days. With these gigs, the year-to-date price performance is 528.77%. Short interest in SoundHound AI Inc (NASDAQ:SOUN) saw shorts transact 86.36 million shares and set a 2.46 days time to cover.
The extremes give us $7 and $9 for target low and target high price respectively. As such, SOUN has been trading 32.48% off suggested target high and 47.49% 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 175.41% up over the last 6 months, with its year-to-date growth rate lower than industry average at 0.00% against 15.30%. The rating firms project that company’s revenue will grow 82.83% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 33.73M. Meanwhile, for the current quarter, a total of 6 analyst(s) estimate revenue growth to 32.19M.Earnings reports from the last fiscal year show that sales brought in 17.15M and 11.59M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 96.70% before jumping 177.67% in the following quarter.
SOUN Dividends
SoundHound AI Inc has its next earnings report out in January. 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 2.23% of total outstanding shares, with institutional holders owning 29.29% of the shares at 29.96% float percentage. In total, 29.29% 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.
