In the last trading session, 49.92 million SoundHound AI Inc (NASDAQ:SOUN) shares changed hands as the company’s beta touched 2.94. With the company’s per share price at $12.82 changed hands at -$1.27 or -9.01% during last session, the market valuation stood at $4.74B. SOUN’s last price was a discount, traded about -94.85% off its 52-week high of $24.98. The share price had its 52-week low at $1.62, which suggests the last value was 87.36% up since then. When we look at SoundHound AI Inc’s average trading volume, we note the 10-day average is 77.11 million shares, with the 3-month average coming to 65.85 million.
Analysts gave the SoundHound AI Inc (SOUN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.71. 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 -0.08.
SoundHound AI Inc (NASDAQ:SOUN) trade information
Instantly SOUN was in red as seen at the end of in last trading. With action -37.83%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -35.38%, with the 5-day performance at -37.83% in the red. However, in the 30-day time frame, SoundHound AI Inc (NASDAQ:SOUN) is -9.88% down. Looking at the short shares, we see there were 76.23 million shares sold at short interest cover period of 0.95 days.
The consensus price target for the stock as assigned by Wall Street analysts is 7, meaning bulls need a downside of -83.14% from its current market value. According to analyst projections, SOUN’s forecast low is 7 with 9 as the target high. To hit the forecast high, the stock’s price needs a 29.8% surge from its current level, while the stock would need to tank 45.4% 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 106.77% over the past 6 months, a 0.00% in annual growth rate that is considerably lower than the industry average of 14.80%. Year-over-year growth is forecast to reach 82.83% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of 33.73M. 6 analysts are of the opinion that SoundHound AI Inc’s revenue for the current quarter will be 32.19M. The company’s revenue for the corresponding quarters a year ago was 17.15M and 11.59M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 96.70%. The estimates for the next quarter sales put growth at 177.67%.
The 2025 estimates are for SoundHound AI Inc earnings to increase by 5.42%.
SOUN Dividends
SoundHound AI Inc is expected to release its next quarterly earnings report in February.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.98% of SoundHound AI Inc shares while 29.83% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 30.43%. There are 29.83% 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 Sep 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF . With 9.47 shares estimated at $121.43 million under it, the former controlled 2.81% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.25% of the shares, roughly 7.57 shares worth around $97.05 million.
