SoundHound AI, Inc. (NASDAQ:SOUN – Get Rating) – Research analysts at Northland Capmk upped their Q1 2023 earnings per share (EPS) estimates for SoundHound AI in a research note issued to investors on Wednesday, January 25th. Northland Capmk analyst M. Latimore now expects that the company will earn ($0.11) per share for the quarter, up from their prior forecast of ($0.13). The consensus estimate for SoundHound AI's current full-year earnings is ($2.50) per share. Northland Capmk also issued estimates for SoundHound AI's Q2 2023 earnings at ($0.08) EPS, Q3 2023 earnings at ($0.05) EPS, Q4 2023 earnings at ($0.03) EPS, FY2023 earnings at ($0.28) EPS and FY2024 earnings at ($0.12) EPS.
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SoundHound AI (NASDAQ:SOUN – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.02. The business had revenue of $11.19 million during the quarter, compared to the consensus estimate of $8.95 million.
Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald upgraded SoundHound AI from a "neutral" rating to an "overweight" rating in a research report on Wednesday, November 30th. Northland Securities decreased their target price on SoundHound AI from $6.00 to $4.50 in a research report on Friday, January 6th.
SoundHound AI Stock Performance
NASDAQ SOUN opened at $1.81 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 5.66. The business has a 50-day moving average price of $1.26 and a 200-day moving average price of $2.50. SoundHound AI has a twelve month low of $0.93 and a twelve month high of $18.14.
Institutional Investors Weigh In On SoundHound AI
Several hedge funds and other institutional investors have recently modified their holdings of SOUN. Tuttle Capital Management LLC purchased a new stake in shares of SoundHound AI in the second quarter worth approximately $29,000. Atom Investors LP purchased a new stake in shares of SoundHound AI in the third quarter worth approximately $35,000. Wedbush Securities Inc. purchased a new stake in shares of SoundHound AI in the third quarter worth approximately $36,000. Virtu Financial LLC purchased a new stake in shares of SoundHound AI in the second quarter worth approximately $44,000. Finally, Jane Street Group LLC purchased a new stake in shares of SoundHound AI in the third quarter worth approximately $46,000. 8.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Eric R. Ball acquired 3,334 shares of the firm's stock in a transaction on Friday, January 20th. The shares were acquired at an average cost of $30.00 per share, for a total transaction of $100,020.00. Following the completion of the transaction, the director now directly owns 3,334 shares in the company, valued at approximately $100,020. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SoundHound AI news, insider James Ming Hom sold 661,192 shares of the company's stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $1.25, for a total transaction of $826,490.00. Following the sale, the insider now directly owns 415,000 shares in the company, valued at $518,750. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric R. Ball acquired 3,334 shares of the firm's stock in a transaction on Friday, January 20th. The shares were bought at an average price of $30.00 per share, for a total transaction of $100,020.00. Following the completion of the transaction, the director now owns 3,334 shares of the company's stock, valued at $100,020. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 710,790 shares of company stock worth $903,354. Corporate insiders own 21.04% of the company's stock.
About SoundHound AI
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SoundHound AI, Inc develops independent voice artificial intelligence (AI) platform that enables businesses across 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 automatic speech recognition, natural language understanding, wake words, custom domains, text-to-speech, and embedded voice solutions The company is headquartered in Santa Clara, California.
Further Reading
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