SoundHound AI (NASDAQ:SOUN) Upgraded to “Hold” at Cantor Fitzgerald

SoundHound AI (NASDAQ:SOUN) was upgraded by analysts at Cantor Fitzgerald to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also issued reports on SOUN. Barclays reissued a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $26.00 target price on shares of SoundHound AI in a report on Monday, January 13th. LADENBURG THALM/SH SH reaffirmed a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a research note on Wednesday, November 13th. Wedbush upped their price target on SoundHound AI from $10.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Northland Securities lifted their price objective on SoundHound AI from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.36.

SoundHound AI Trading Down 8.5 %

Shares of SOUN stock opened at $9.43 on Monday. The firm has a fifty day moving average of $16.04 and a 200-day moving average of $9.82. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -26.19 and a beta of 2.56. SoundHound AI has a 52-week low of $3.50 and a 52-week high of $24.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.58 and a current ratio of 2.58.

Insider Activity at SoundHound AI

In other SoundHound AI news, CTO Timothy Stonehocker sold 34,407 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $20.30, for a total value of $698,462.10. Following the completion of the sale, the chief technology officer now owns 796,581 shares in the company, valued at approximately $16,170,594.30. This trade represents a 4.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Majid Emami sold 94,067 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.05, for a total transaction of $851,306.35. Following the completion of the transaction, the vice president now directly owns 735,685 shares of the company’s stock, valued at approximately $6,657,949.25. This represents a 11.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,722,918 shares of company stock valued at $44,935,943 in the last three months. Corporate insiders own 12.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Commons Capital LLC raised its position in shares of SoundHound AI by 2.7% during the fourth quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after acquiring an additional 723 shares during the last quarter. ST Germain D J Co. Inc. increased its position in SoundHound AI by 33.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after purchasing an additional 750 shares during the period. Keynote Financial Services LLC raised its holdings in SoundHound AI by 4.7% during the 4th quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock worth $329,000 after purchasing an additional 752 shares during the last quarter. Blue Trust Inc. lifted its position in SoundHound AI by 197.6% during the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after purchasing an additional 830 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of SoundHound AI by 16.4% in the 4th quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock valued at $131,000 after purchasing an additional 929 shares during the last quarter. Institutional investors and hedge funds own 19.28% of the company’s stock.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.