SoundHound AI Inc [NASDAQ: SOUN] stock went on a downward path that fall over -18.67% on Friday, amounting to a one-week price increase of more than 53.95%. The company report on March 1, 2024 at 4:05 PM that SoundHound AI To Participate in Citizens JMP Technology Conference on March 4.
SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, today announced that it will participate in the following investor event:.
Nitesh Sharan, CFO of SoundHound AI, will participate at the Citizens JMP Technology Conference on March 4 in San Francisco, CA. The presentation will be broadcast live at 11:30 am PT/2:30 pm ET. You can register to view here.
Over the last 12 months, SOUN stock rose by 114.01%. The one-year SoundHound AI Inc stock forecast points to a potential upside of 9.05. The average equity rating for SOUN stock is currently 1.33, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.49 billion, with 216.94 million shares outstanding and 195.13 million shares in the current float. Compared to the average trading volume of 32.33M shares, SOUN stock reached a trading volume of 144771028 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $6.63 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 1.33. 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.
Northland Capital have made an estimate for SoundHound AI Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on February 28, 2024. While these analysts kept the previous recommendation, Ladenburg Thalmann raised their target price to Buy. The new note on the price target was released on January 30, 2024, representing the official price target for SoundHound AI Inc stock. Previously, the target price had yet another raise to $5, while DA Davidson analysts kept a Buy rating on SOUN stock.
The Average True Range (ATR) for SoundHound AI Inc is set at 0.74, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 32.49. The Price to Book ratio for the last quarter was 109.83, 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 53.95. With this latest performance, SOUN shares gained by 263.55% in over the last four-week period, additionally plugging by 128.60% over the last 6 months – not to mention a rise of 114.01% 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 67.52, with the RSI for the last a single of trading hit 64.93, and the three-weeks RSI is set at 68.30 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 2.64, while it was recorded at 6.48 for the last single week of trading, and 2.52 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 4.69 and a Current Ratio set at 4.69.
SOUN Stock EPS
With the latest financial reports released by the company, SoundHound AI Inc posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -8.30%. 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%.
