SoundHound AI Inc [NASDAQ: SOUN] stock went on an upward path that rose over 1.63% on Friday, amounting to a one-week price increase of more than 24.61%.
Over the last 12 months, SOUN stock rose by 111.13%. The one-year SoundHound AI Inc stock forecast points to a potential upside of 5.09. 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 $4.50 billion, with 368.87 million shares outstanding and 359.76 million shares in the current float. Compared to the average trading volume of 31.69M shares, SOUN stock reached a trading volume of 26424659 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 $11.79 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 0.83, with the Price to Sales ratio for SOUN stock in the period of the last 12 months amounting to 43.97. The Price to Book ratio for the last quarter was 11.31, with the Price to Cash per share for the same quarter was set at 0.61.
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 24.61. With this latest performance, SOUN shares gained by 44.20% in over the last four-week period, additionally plugging by 48.02% over the last 6 months – not to mention a rise of 111.13% 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 61.88, with the RSI for the last a single of trading hit 64.74, and the three-weeks RSI is set at 58.14 for SoundHound AI Inc [SOUN]. The present Moving Average for the last 50 days of trading for this stock 9.14, while it was recorded at 11.25 for the last single week of trading, and 9.35 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 4.92 and a Current Ratio set at 4.92.
SoundHound AI Inc [SOUN] Institutonal Ownership Details
The top three institutional holders of SOUN stocks are: VANGUARD GROUP INC with ownership of 22.69 million shares, which is approximately 6.8376%. 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%.
