SoundHound AI Inc [NASDAQ: SOUN] closed the trading session at $6.14. The company report on March 18, 2024 at 6:02 PM that SoundHound to Offer On-Chip Voice AI with NVIDIA That Delivers In-Vehicle Generative AI Responses With No Connectivity Required.
Solution combines SoundHound Chat AI with a large language model running in-vehicle on NVIDIA DRIVE for seamless voice interaction.
SoundHound AI, Inc. (Nasdaq: SOUN), a global leader in voice artificial intelligence, today announced an innovative in-vehicle voice assistant that uses a large language model (LLM) completely on the edge while running on the NVIDIA DRIVE platform.
The stocks have a year to date performance of 189.62 percent and weekly performance of -31.09 percent. The stock has been moved at 221.47 percent over the last six months. The stock has performed 54.66 percent around the most recent 30 days and changed 193.78 percent over the most recent 3-months.
If compared to the average trading volume of 56.39M shares, SOUN reached to a volume of 85057485 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $7.15 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 Underweight, with their previous recommendation back on March 20, 2024. The new note on the price target was released on February 28, 2024, representing the official price target for SoundHound AI Inc stock. Previously, the target price had yet another raise to $4, while Ladenburg Thalmann analysts kept a Buy rating on SOUN stock.
The Average True Range (ATR) for SoundHound AI Inc is set at 1.09, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 33.05. The Price to Book ratio for the last quarter was 111.74, with the Price to Cash per share for the same quarter was set at 0.39.
SOUN stock trade performance evaluation
SoundHound AI Inc [SOUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.09. With this latest performance, SOUN shares gained by 54.66% in over the last four-week period, additionally plugging by 221.47% over the last 6 months – not to mention a rise of 219.79% 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 50.73, with the RSI for the last a single of trading hit 43.85, and the three-weeks RSI is set at 54.23 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 4.08, while it was recorded at 7.46 for the last single week of trading, and 2.83 for the last 200 days.
SoundHound AI Inc [SOUN]: An insightful look at the core 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.
Earnings per share (EPS) analysis for SoundHound AI Inc [SOUN] stock
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]: Institutional Ownership
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%.
