In the latest trading session, 20.14 million SoundHound AI Inc (NASDAQ:SOUN) shares changed hands as the company’s beta touched 2.82. With the company’s most recent per share price at $9.38 changed hands at -$0.93 or -9.07% at last look, the market valuation stands at $3.69B. SOUN’s current price is a discount, trading about -166.31% off its 52-week high of $24.98. The share price had its 52-week low at $3.50, which suggests the last value was 62.69% up since then.
Analysts gave the SoundHound AI Inc (SOUN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.88. 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 in intraday trades today. With action -14.50%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -52.75%, with the 5-day performance at -14.50% in the red. However, in the 30-day time frame, SoundHound AI Inc (NASDAQ:SOUN) is -42.84% down.
The consensus price target for the stock as assigned by Wall Street analysts is 7, meaning bulls need a downside of -34.0% from its recent market value. According to analyst projections, SOUN’s forecast low is 7 with 7 as the target high. To hit the forecast high, the stock’s price needs a 25.37% surge from its current level, while the stock would need to tank 25.37% for it to hit the projected low.
SoundHound AI Inc (SOUN) estimates and forecasts
Year-over-year growth is forecast to reach 82.77% 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 33.7M. 6 analysts are of the opinion that SoundHound AI Inc’s revenue for the current quarter will be 34.34M. 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 96.52%. The estimates for the next quarter sales put growth at 196.19%.
The 2025 estimates are for SoundHound AI Inc earnings to increase by 5.71%, but the outlook for the next 5-year period is at 27.10% per year.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
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 $88.07 million under it, the former controlled 2.63% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.28% of the shares, roughly 8.21 shares worth around $76.35 million.
