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

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

SoundHound AI Trading Up 3.2 %

Shares of SoundHound AI stock traded up $0.20 during mid-day trading on Thursday, hitting $6.47. 16,222,621 shares of the stock were exchanged, compared to its average volume of 34,323,852. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -17.42 and a beta of 2.71. SoundHound AI has a twelve month low of $1.62 and a twelve month high of $10.25. The company has a 50-day simple moving average of $5.21 and a 200 day simple moving average of $4.93.

Insider Activity

In other SoundHound AI news, insider James Ming Hom sold 21,024 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $102,597.12. Following the transaction, the insider now owns 865,965 shares of the company’s stock, valued at $4,225,909.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Keyvan Mohajer sold 90,641 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $442,328.08. Following the completion of the transaction, the chief executive officer now owns 2,362,692 shares of the company’s stock, valued at approximately $11,529,936.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James Ming Hom sold 21,024 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $4.88, for a total transaction of $102,597.12. Following the transaction, the insider now directly owns 865,965 shares in the company, valued at approximately $4,225,909.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,275 shares of company stock valued at $1,606,644 over the last 90 days. Insiders own 12.28% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. LADENBURG THALM/SH SH restated a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday. HC Wainwright increased their price objective on SoundHound AI from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays reissued a “neutral” rating and set a $7.00 price target on shares of SoundHound AI in a research note on Wednesday. Wedbush reissued an “outperform” rating and issued a $9.00 price objective on shares of SoundHound AI in a research note on Thursday, September 26th. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.00 to $7.00 in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.64.

SoundHound AI Company Profile

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.