SoundHound AI (SOUN) Scheduled to Post Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) is set to issue its quarterly earnings data after the market closes on Thursday, August 8th. 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.Parties that are interested in registering for the company’s conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. SoundHound AI had a negative return on equity of 163.00% and a negative net margin of 183.49%. The company had revenue of $11.59 million during the quarter, compared to the consensus estimate of $10.10 million. During the same period last year, the business earned ($0.12) EPS. The business’s quarterly revenue was up 72.9% on a year-over-year basis. 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 Stock Up 5.7 %

SOUN opened at $4.46 on Wednesday. SoundHound AI has a fifty-two week low of $1.49 and a fifty-two week high of $10.25. The business has a 50-day moving average of $4.62 and a 200-day moving average of $4.62. The company has a debt-to-equity ratio of 0.56, a current ratio of 8.84 and a quick ratio of 8.84. The company has a market capitalization of $1.47 billion, a PE ratio of -11.74 and a beta of 2.77.

Insider Buying and Selling at SoundHound AI

In other SoundHound AI news, CTO Timothy Stonehocker sold 208,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $5.75, for a total value of $1,196,000.00. Following the sale, the chief technology officer now owns 659,531 shares of the company’s stock, valued at approximately $3,792,303.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other SoundHound AI news, CTO Timothy Stonehocker sold 208,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $5.75, for a total value of $1,196,000.00. Following the sale, the chief technology officer now owns 659,531 shares of the company’s stock, valued at approximately $3,792,303.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keyvan Mohajer sold 116,504 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $3.95, for a total value of $460,190.80. Following the completion of the sale, the chief executive officer now directly owns 953,333 shares in the company, valued at approximately $3,765,665.35. The disclosure for this sale can be found here. Insiders have sold 625,728 shares of company stock valued at $3,011,476 in the last 90 days. 21.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SOUN has been the subject of a number of recent research reports. Cantor Fitzgerald raised SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 price target for the company in a research note on Thursday, April 11th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of SoundHound AI in a research note on Monday, July 29th. Finally, Wedbush reissued an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.