SoundHound AI Inc [NASDAQ: SOUN] price surged by 3.47 percent to reach at $0.06. The company report on November 9, 2023 at 4:09 PM that SoundHound AI Reports Record Third Quarter, Revenue Increases to $13.3 Million, Adjusted EBITDA Improves 57% Year Over Year.
SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, today reported its financial results for the third quarter of 2023. The financial data presented in this press release should be considered preliminary until the company files its 10-Q.
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A sum of 16716918 shares traded at recent session while its average daily volume was at 9.92M shares. SoundHound AI Inc shares reached a high of $1.93 and dropped to a low of $1.61 until finishing in the latest session at $1.79.
The one-year SOUN stock forecast points to a potential upside of 60.4. The average equity rating for SOUN stock is currently 1.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $4.52 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 1.00. 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.
DA Davidson have made an estimate for SoundHound AI Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 27, 2023.
The Average True Range (ATR) for SoundHound AI Inc is set at 0.15, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 1.76. The Price to Book ratio for the last quarter was 30.04, with the Price to Cash per share for the same quarter was set at 2.93.
SOUN Stock Performance Analysis:
SoundHound AI Inc [SOUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.72. With this latest performance, SOUN shares dropped by 0.00% in over the last four-week period, additionally sinking by -27.82% over the last 6 months – not to mention a drop of -13.11% in the past year of trading.
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 50.33, with the RSI for the last a single of trading hit 54.75, and the three-weeks RSI is set at 47.48 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 1.9160, while it was recorded at 1.7780 for the last single week of trading, and 2.6146 for the last 200 days.
Insight into SoundHound AI Inc Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and SoundHound AI Inc [SOUN] shares currently have an operating margin of -338.61 and a Gross Margin at +69.16. SoundHound AI Inc’s Net Margin is presently recorded at -370.63.
Return on Total Capital for SOUN is now -148.59, given the latest momentum, and Return on Invested Capital for the company is -189.50. Return on Equity for this stock declined to -236.37, with Return on Assets sitting at -134.47. Additionally, SOUN Total Debt to Total Capital is recorded at 490.22, with Total Debt to Total Assets ending up at 115.69.
Reflecting on the efficiency of the workforce at the company, SoundHound AI Inc [SOUN] managed to generate an average of -$268,309 per employee. Receivables Turnover for the company is 12.24 with a Total Asset Turnover recorded at a value of 0.36.SoundHound AI Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 4.70.
SoundHound AI Inc [SOUN] Institutonal Ownership Details
The top three institutional holders of SOUN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in SOUN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in SOUN stock with ownership which is approximately 5.7994%.
