Cantor Fitzgerald lifts SoundHound AI Inc. [SOUN] price estimate. Who else is bullish?

SoundHound AI Inc. [NASDAQ: SOUN] jumped around 0.74 points on Friday, while shares priced at $1.77 at the close of the session, up 71.84%. The company report on November 17, 2022 that Launch of SoundHound Dynamic Interaction Marks Groundbreaking New Era for Human-Computer Interaction.

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Voice AI category leader unveils new approach, reimagines speech technology for customer service and restaurant use cases.

SoundHound AI, Inc. (Nasdaq: SOUN) (“SoundHound”), a global leader in voice artificial intelligence, today introduced Dynamic Interaction™, a category-level breakthrough in conversational AI that raises the bar for human-computer interaction by not only recognizing and understanding speech, but also responding and acting in real-time.

Compared to the average trading volume of 492.43K shares, SOUN reached a trading volume of 6786584 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about SoundHound AI Inc. [SOUN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SOUN shares is $4.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SOUN stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for SoundHound AI Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 30, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Neutral. The new note on the price target was released on July 01, 2022, representing the official price target for SoundHound AI Inc. stock. Previously, the target price had yet another raise to $7, while Wedbush analysts kept a Outperform rating on SOUN stock.

The Average True Range (ATR) for SoundHound AI Inc. is set at 0.18, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 7.55.

How has SOUN stock performed recently?

SoundHound AI Inc. [SOUN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 83.29. With this latest performance, SOUN shares gained by 38.28% in over the last four-week period, additionally sinking by -31.66% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SOUN stock in for the last two-week period is set at 64.63, with the RSI for the last a single of trading hit 77.23, and the three-weeks RSI is set at 55.63 for SoundHound AI Inc. [SOUN]. The present Moving Average for the last 50 days of trading for this stock 1.7088, while it was recorded at 1.1578 for the last single week of trading.

SoundHound AI Inc. [SOUN]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -1.48, with Return on Assets sitting at -1.47.

SoundHound AI Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Insider trade positions for SoundHound AI Inc. [SOUN]

There are presently around $31 million, or 11.00% of SOUN stock, in the hands of institutional investors. The top three institutional holders of SOUN stocks are: ANCHORAGE CAPITAL GROUP, L.L.C. with ownership of 3,197,767, which is approximately 0% of the company’s market cap and around 3.10% of the total institutional ownership; COTA CAPITAL MANAGEMENT, LLC, holding 2,038,595 shares of the stock with an approximate value of $3.61 million in SOUN stocks shares; and BLACKROCK INC., currently with $3.11 million in SOUN stock with ownership of nearly -0.503% of the company’s market capitalization.

Positions in SoundHound AI Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 15 institutional holders increased their position in SoundHound AI Inc. [NASDAQ:SOUN] by around 2,342,176 shares. Additionally, 17 investors decreased positions by around 283,062 shares, while 14 investors held positions by with 14,630,847 shares. The mentioned changes placed institutional holdings at 17,256,085 shares, according to the latest SEC report filing. SOUN stock had 10 new institutional investments in for a total of 2,136,684 shares, while 9 institutional investors sold positions of 201,798 shares during the same period.

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