SoundHound AI Inc [NASDAQ: SOUN] price plunged by -1.26 percent to reach at -$0.05. The company report on February 21, 2024 at 9:00 AM that Global First As SoundHound AI’s Voice Assistant With Integrated ChatGPT Goes Into Full Production with Stellantis DS Automobiles; In-Car Usage Sees Huge Growth.
SoundHound Chat AI voice assistant already piloting with several brands and goes into full production with DS automobiles next month.
SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, today announced that its voice assistant with integrated ChatGPT will be the first to go into full production with an international automaker. SoundHound Chat AI for Automotive was the first generative AI-enabled in-vehicle voice assistant on the market in April 2023, and will be available in Stellantis DS Automobiles starting next month, less than a year later.
The one-year SOUN stock forecast points to a potential upside of 11.51. 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 $4.43 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.
Ladenburg Thalmann have made an estimate for SoundHound AI Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 30, 2024. While these analysts kept the previous recommendation, DA Davidson raised their target price to Buy. The new note on the price target was released on September 27, 2023, representing the official price target for SoundHound AI Inc stock. Previously, the target price had yet another raise to $5, while H.C. Wainwright analysts kept a Buy rating on SOUN stock.
The Average True Range (ATR) for SoundHound AI Inc is set at 0.34, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 25.32. The Price to Book ratio for the last quarter was 83.69, with the Price to Cash per share for the same quarter was set at 0.39.
SOUN Stock Performance Analysis:
SoundHound AI Inc [SOUN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.26. With this latest performance, SOUN shares gained by 106.32% in over the last four-week period, additionally plugging by 60.66% over the last 6 months – not to mention a drop of -1.51% 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 78.47, with the RSI for the last a single of trading hit 80.52, and the three-weeks RSI is set at 75.54 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 2.21, while it was recorded at 3.89 for the last single week of trading, and 2.43 for the last 200 days.
Insight into SoundHound AI Inc Fundamentals:
SoundHound AI Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.11 and a Current Ratio set at 5.11.
SOUN Stock EPS
With the latest financial reports released by the company, SoundHound AI Inc posted -0.15/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SOUN.
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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SOUN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SOUN stock with ownership which is approximately 5.8325%.
