Brokerages Set SoundHound AI, Inc. (NASDAQ:SOUN) Price Target at $12.36

Shares of SoundHound AI, Inc. (NASDAQ:SOUN) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.36.

Several equities research analysts have weighed in on SOUN shares. Northland Securities boosted their price objective on SoundHound AI from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and issued a $26.00 price objective on shares of SoundHound AI in a research note on Monday, January 13th. LADENBURG THALM/SH SH restated a “neutral” rating and issued a $7.00 price target on shares of SoundHound AI in a report on Wednesday, November 13th. Wedbush upped their price objective on SoundHound AI from $10.00 to $22.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Barclays restated a “neutral” rating and issued a $7.00 target price on shares of SoundHound AI in a research note on Wednesday, November 13th.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, Director Eric R. Ball sold 30,000 shares of SoundHound AI stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.03, for a total transaction of $240,900.00. Following the completion of the transaction, the director now owns 110,907 shares in the company, valued at approximately $890,583.21. This trade represents a 21.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Marcus sold 20,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $20.47, for a total value of $409,400.00. Following the completion of the transaction, the director now directly owns 108,117 shares of the company’s stock, valued at approximately $2,213,154.99. This trade represents a 15.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,752,918 shares of company stock worth $45,176,843. Company insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On SoundHound AI

Institutional investors have recently made changes to their positions in the company. Commons Capital LLC boosted its stake in shares of SoundHound AI by 2.7% during the 4th quarter. Commons Capital LLC now owns 27,349 shares of the company’s stock worth $543,000 after acquiring an additional 723 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in SoundHound AI by 33.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 3,008 shares of the company’s stock worth $60,000 after purchasing an additional 750 shares in the last quarter. Keynote Financial Services LLC grew its holdings in SoundHound AI by 4.7% in the fourth quarter. Keynote Financial Services LLC now owns 16,587 shares of the company’s stock valued at $329,000 after purchasing an additional 752 shares during the period. Blue Trust Inc. increased its position in shares of SoundHound AI by 197.6% in the fourth quarter. Blue Trust Inc. now owns 1,250 shares of the company’s stock valued at $25,000 after buying an additional 830 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of SoundHound AI by 16.4% during the 4th quarter. Russell Investments Group Ltd. now owns 6,598 shares of the company’s stock worth $131,000 after buying an additional 929 shares during the period. 19.28% of the stock is owned by hedge funds and other institutional investors.

SoundHound AI Stock Down 1.4 %

NASDAQ SOUN opened at $10.91 on Friday. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.13. SoundHound AI has a 12 month low of $3.46 and a 12 month high of $24.98. The stock’s 50 day moving average is $16.38 and its 200 day moving average is $9.67. The stock has a market cap of $4.29 billion, a PE ratio of -30.31 and a beta of 2.56.

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.