SoundHound AI (SOUN) to Release Quarterly Earnings on Thursday

SoundHound AI (NASDAQ:SOUN) will announce 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.Persons interested in registering for the company’s earnings conference call can do so using this link.

SoundHound AI (NASDAQ:SOUN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). SoundHound AI had a negative net margin of 188.57% and a negative return on equity of 1,955.68%. The company had revenue of $17.10 million for the quarter, compared to the consensus estimate of $17.75 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The company’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 Stock Down 5.2 %

SOUN opened at $4.94 on Wednesday. The firm’s fifty day moving average is $5.53 and its 200 day moving average is $3.35. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -12.67 and a beta of 2.87. SoundHound AI has a fifty-two week low of $1.49 and a fifty-two week high of $10.25. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.69 and a current ratio of 4.69.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SOUN shares. Northland Securities reiterated a “market perform” rating on shares of SoundHound AI in a report on Wednesday, February 28th. DA Davidson increased their price objective on shares of SoundHound AI from $7.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, March 15th. HC Wainwright increased their price target on shares of SoundHound AI from $5.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, March 4th. LADENBURG THALM/SH SH assumed coverage on SoundHound AI in a research report on Tuesday, January 30th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, Cantor Fitzgerald upgraded shares of SoundHound AI from an “underweight” rating to a “neutral” rating and set a $4.90 target price for the company in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.88.

Insider Buying and Selling at SoundHound AI

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

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.