SoundHound AI (SOUN) Set to Announce Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) will be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.09) per share for the quarter. SoundHound AI has set its FY 2024 guidance at EPS and its FY 2025 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last released its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SoundHound AI had a negative return on equity of 1,955.68% and a negative net margin of 188.57%. The firm had revenue of $17.10 million during the quarter, compared to the consensus estimate of $17.75 million. During the same quarter last year, the business posted ($0.15) EPS. SoundHound AI’s revenue was up 80.0% compared to the same quarter last year. On average, analysts expect SoundHound AI to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoundHound AI Trading Up 4.0 %

Shares of SOUN opened at $4.41 on Thursday. SoundHound AI has a 1-year low of $1.49 and a 1-year high of $10.25. The company has a 50-day moving average of $5.51 and a 200 day moving average of $3.27. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -11.31 and a beta of 2.75. The company has a debt-to-equity ratio of 6.03, a current ratio of 4.69 and a quick ratio of 4.69.

Insiders Place Their Bets

In other news, VP Majid Emami sold 17,041 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $8.37, for a total transaction of $142,633.17. Following the completion of the sale, the vice president now owns 467,492 shares of the company’s stock, valued at $3,912,908.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Majid Emami sold 17,041 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $8.37, for a total transaction of $142,633.17. Following the completion of the sale, the vice president now owns 467,492 shares of the company’s stock, valued at $3,912,908.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric R. Ball sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. Following the sale, the director now directly owns 530,250 shares of the company’s stock, valued at approximately $2,651,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 405,057 shares of company stock worth $2,587,804. Company insiders own 21.30% of the company’s stock.

Analysts Set New Price Targets

SOUN has been the topic of a number of analyst reports. Northland Securities reaffirmed a “market perform” rating on shares of SoundHound AI in a research report on Wednesday, February 28th. Wedbush lifted their price objective on shares of SoundHound AI from $5.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Cantor Fitzgerald raised shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price objective on the stock in a research report on Thursday, April 11th. DA Davidson lifted their price objective on shares of SoundHound AI from $7.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of SoundHound AI in a research report on Tuesday, January 30th. They issued a “buy” rating and a $4.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.88.

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.