In the latest trading session, 9.5 million SoundHound AI Inc (NASDAQ:SOUN) shares changed hands as the company’s beta touched 2.90. With the company’s most recent per share price at $7.62 changing hands around $0.3 or 4.10% at last look, the market valuation stands at $3.04B. SOUN’s current price is a discount, trading about -227.82% 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 54.07% up since then. When we look at SoundHound AI Inc’s average trading volume, we note the 10-day average is 21.8 million shares, with the 3-month average coming to 44.74 million.
Analysts gave the SoundHound AI Inc (SOUN) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.86. 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 -0.06.
SoundHound AI Inc (NASDAQ:SOUN) trade information
Instantly SOUN is in green as seen in intraday trades today. With action -6.16%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -61.59%, with the 5-day performance at -6.16% in the red. However, in the 30-day time frame, SoundHound AI Inc (NASDAQ:SOUN) is -21.77% down. Looking at the short shares, we see there were 116.57 million shares sold at short interest cover period of 2.33 days.
The consensus price target for the stock as assigned by Wall Street analysts is 13, meaning bulls need an upside of 41.38% from its recent market value. According to analyst projections, SOUN’s forecast low is 13 with 13 as the target high. To hit the forecast high, the stock’s price needs a -70.6% plunge from its current level, while the stock would need to soar -70.6% for it to hit the projected low.
SoundHound AI Inc (SOUN) estimates and forecasts
Year-over-year growth is forecast to reach 96.20% 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 30.38M. 7 analysts are of the opinion that SoundHound AI Inc’s revenue for the current quarter will be 36.59M. The company’s revenue for the corresponding quarters a year ago was 11.59M and 13.46M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 161.99%. The estimates for the next quarter sales put growth at 171.83%.
The 2025 estimates are for SoundHound AI Inc earnings to increase by 74.84%.
SoundHound AI Inc (NASDAQ:SOUN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.88% of SoundHound AI Inc shares while 36.01% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 36.71%. There are 36.01% 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 6.4622% or 21.44 million shares worth $84.7 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund and iShares Trust-iShares Russell 2000 ETF. With 10.05 shares estimated at $76.8 million under it, the former controlled 2.74% of total outstanding shares. On the other hand, iShares Trust-iShares Russell 2000 ETF held about 2.17% of the shares, roughly 7.96 shares worth around $60.85 million.
