SoundHound AI (NASDAQ:SOUN) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

SoundHound AI (NASDAQ:SOUN) announced its earnings results on Tuesday. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01, Briefing.com reports. The firm had revenue of $25.10 million for the quarter, compared to the consensus estimate of $23.02 million. SoundHound AI had a negative return on equity of 73.21% and a negative net margin of 163.58%. The business’s quarterly revenue was up 88.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS. SoundHound AI updated its FY 2025 guidance to EPS and its FY 2024 guidance to EPS.

SoundHound AI Stock Performance

SOUN stock opened at $6.63 on Friday. The stock’s 50 day simple moving average is $5.26 and its 200 day simple moving average is $4.94. The company has a market cap of $2.38 billion, a P/E ratio of -18.42 and a beta of 2.71. SoundHound AI has a fifty-two week low of $1.62 and a fifty-two week high of $10.25.

Wall Street Analyst Weigh In

Several brokerages recently commented on SOUN. DA Davidson reiterated a “buy” rating and issued a $9.50 target price on shares of SoundHound AI in a report on Monday, September 30th. Northland Securities increased their price objective on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Wedbush reissued an “outperform” rating and set a $9.00 target price on shares of SoundHound AI in a research note on Thursday, September 26th. HC Wainwright upped their target price on SoundHound AI from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays restated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.64.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, Director Lawrence Marcus sold 50,000 shares of SoundHound AI stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.02, for a total value of $251,000.00. Following the sale, the director now owns 74,038 shares of the company’s stock, valued at approximately $371,670.76. The trade was a 40.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Timothy Stonehocker sold 20,337 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $99,244.56. Following the completion of the transaction, the chief technology officer now owns 1,039,194 shares in the company, valued at approximately $5,071,266.72. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,275 shares of company stock valued at $1,606,644. Company insiders own 12.28% of the company’s stock.

About SoundHound AI

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service industries to deliver high-quality conversational experiences to their customers. Its products include Houndify platform that offers a suite of Houndify tools to help brands build conversational voice assistants, such as Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.