SoundHound AI Inc [NASDAQ: SOUN] traded at a low on Friday, posting a -1.71 loss after which it closed the day’ session at $5.18. The company report on March 25, 2024 at 9:00 AM that First for Japan as SoundHound AI’s Voice Assistant With Integrated ChatGPT Launches in Stellantis DS Automobiles.
SoundHound Chat AI in-vehicle voice assistant becomes first in Japan to integrate generative AI.
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 vehicles in Japan. SoundHound Chat AI Automotive became the world’s first in-vehicle voice assistant with integrated generative AI when it hit the market in April 2023. It will be available in Stellantis DS Automobiles in Japan starting this month.
The results of the trading session contributed to over 27789615 shares changing hands. Over the past one week, the price volatility of SoundHound AI Inc stands at 8.07% while the volatility over the past one month is 14.60%.
The market cap for SOUN stock reached $1.60 billion, with 309.12 million shares outstanding and 255.50 million shares in the current float. Compared to the average trading volume of 61.12M shares, SOUN reached a trading volume of 27789615 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 $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 0.80, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 34.91. The Price to Book ratio for the last quarter was 94.27, with the Price to Cash per share for the same quarter was set at 0.31.
How has SOUN stock performed recently?
SoundHound AI Inc [SOUN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.05. With this latest performance, SOUN shares gained by 2.78% in over the last four-week period, additionally plugging by 162.94% over the last 6 months – not to mention a rise of 84.34% 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 43.95, with the RSI for the last a single of trading hit 36.38, and the three-weeks RSI is set at 48.40 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 4.75, while it was recorded at 5.29 for the last single week of trading, and 2.93 for the last 200 days.
SoundHound AI Inc [SOUN]: Deeper insight into the 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 analysis for SoundHound AI Inc [SOUN]
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.
Insider trade positions for SoundHound AI Inc [SOUN]
The top three institutional holders of SOUN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SOUN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SOUN stock with ownership which is approximately 5.8386%.
