SoundHound AI Inc [NASDAQ: SOUN] stock went on a downward path that fall over -1.57% on Monday, amounting to a one-week price increase of more than 7.24%.
Over the last 12 months, SOUN stock rose by 70.86%. The one-year SoundHound AI Inc stock forecast points to a potential upside of 41.49. The average equity rating for SOUN stock is currently 1.86, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.25 billion, with 361.10 million shares outstanding and 356.48 million shares in the current float. Compared to the average trading volume of 41.68M shares, SOUN stock reached a trading volume of 18303557 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 $13.93 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 1.86. 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 Neutral, with their previous recommendation back on November 13, 2024. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price from $5 to $7. The new note on the price target was released on August 09, 2024, representing the official price target for SoundHound AI Inc stock. Previously, the target price had yet another raise to $4.90, while Cantor Fitzgerald analysts kept a Neutral rating on SOUN stock.
The Average True Range (ATR) for SoundHound AI Inc is set at 1.02, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 38.39. The Price to Book ratio for the last quarter was 17.56, with the Price to Cash per share for the same quarter was set at 0.50.
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 7.24. With this latest performance, SOUN shares dropped by -21.18% in over the last four-week period, additionally plugging by 68.39% over the last 6 months – not to mention a rise of 70.86% 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 43.56, with the RSI for the last a single of trading hit 45.27, and the three-weeks RSI is set at 43.08 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 10.36, while it was recorded at 8.13 for the last single week of trading, and 8.81 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 3.77 and a Current Ratio set at 3.77.
SoundHound AI Inc [SOUN] Institutonal Ownership Details
There are presently around $36.02%, or 36.71%% of SOUN stock, in the hands of institutional investors. The top three institutional holders of SOUN stocks are: VANGUARD GROUP INC with ownership of 22.69 million shares, which is approximately 7.9168%. BLACKROCK INC., holding 21.44 million shares of the stock with an approximate value of $$84.7 million in SOUN stocks shares; and BLACKROCK INC., currently with $$28.26 million in SOUN stock with ownership which is approximately 2.1561%.
