During the recent session, SoundHound AI Inc (NASDAQ:SOUN)’s traded shares were 31.68 million, with the beta value of the company hitting 3.36. At the last check today, the stock’s price was $15.31, reflecting an intraday gain of 12.00% or $1.64. The 52-week high for the SOUN share is $16.07, that puts it down -4.96 from that peak though still a striking 89.42% gain since the share price plummeted to a 52-week low of $1.62. The company’s market capitalization is $5.66B, and the average intraday trading volume over the past 10 days was 101.28 million shares, and the average trade volume was 40.30 million shares over the past three months.
SoundHound AI Inc (SOUN) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.71. SOUN has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.08.
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SoundHound AI Inc (NASDAQ:SOUN) trade information
SoundHound AI Inc (SOUN) registered a 12.00% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 12.00% in intraday trading to $15.31, hitting a weekly high. The stock’s 5-day price performance is 2.00%, and it has moved by 144.18% in 30 days. Based on these gigs, the overall price performance for the year is 599.09%. The short interest in SoundHound AI Inc (NASDAQ:SOUN) is 81.65 million shares and it means that shorts have 1.73 day(s) to cover.
The consensus price target of analysts on Wall Street is $7, which implies a decrease of -118.71% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7 and $9 respectively. As a result, SOUN is trading at a premium of 41.21% off the target high and 54.28% off the low.
SoundHound AI Inc (SOUN) estimates and forecasts
Statistics show that SoundHound AI Inc has underperformed its competitors in share price, compared to the industry in which it operates. SoundHound AI Inc (SOUN) shares have gone up 245.60% during the last six months, with a year-to-date growth rate less than the industry average at 0.00% against 15.00. In the rating firms’ projections, revenue will increase 82.83% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 33.73M as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to 32.19M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 17.15M and 11.59M respectively. In this case, analysts expect current quarter sales to grow by 96.70% and then jump by 177.67% in the coming quarter.
While earnings are projected to return 5.42% in 2024.
SOUN Dividends
SoundHound AI Inc is due to release its next quarterly earnings in January. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
SoundHound AI Inc insiders own 2.13% of total outstanding shares while institutional holders control 29.30%, with the float percentage being 29.94%. VANGUARD GROUP INC is the largest shareholder of the company, while 371.0 institutions own stock in it. As of 2024-06-30, the company held over 22.69 million shares (or 7.9168% of all shares), a total value of $89.62 million in shares.
The next largest institutional holding, with 21.44 million shares, is of BLACKROCK INC.’s that is approximately 7.4821% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $84.7 million.
Also, the Mutual Funds coming in first place with the largest holdings of SoundHound AI Inc (SOUN) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Sep 30, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 9.47 shares. This amounts to just over 2.81 percent of the company’s overall shares, with a $150.12 million market value. The same data shows that the other fund manager holds slightly less at 7.65, or about 2.27% of the stock, which is worth about $121.29 million.
