SoundHound AI Inc [SOUN] stock is trading at $4.60, down -0.43%. An important factor to consider is whether the stock is rising or falling in short-term value. The SOUN shares have gain 0.88% over the last week, with a monthly amount drifted -5.54%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
SoundHound AI Inc [NASDAQ: SOUN] stock has seen the most recent analyst activity on August 09, 2024, when Cantor Fitzgerald upgraded its rating to a Overweight and also boosted its price target to $7 from $5. Previously, Cantor Fitzgerald upgraded its rating to Neutral on April 11, 2024, and kept the price target unchanged to $4.90. On March 20, 2024, downgrade downgraded it’s rating to Underweight. Northland Capital downgraded its rating to a Market Perform. Ladenburg Thalmann initiated its recommendation with a Buy and recommended $4 as its price target on January 30, 2024. DA Davidson started tracking with a Buy rating for this stock on September 27, 2023, and assigned it a price target of $5. In a note dated September 05, 2023, H.C. Wainwright initiated an Buy rating and provided a target price of $5 on this stock.
SoundHound AI Inc [SOUN] stock has fluctuated between $1.49 and $10.25 over the past year. Currently, Wall Street analysts expect the stock to reach $8.5 within the next 12 months. SoundHound AI Inc [NASDAQ: SOUN] shares were valued at $4.60 at the most recent close of the market. An investor can expect a potential return of 84.78% based on the average SOUN price forecast.
Analyzing the SOUN fundamentals
SoundHound AI Inc [NASDAQ:SOUN] reported sales of 55.47M for the trailing twelve months, which represents a growth of 53.83%. Gross Profit Margin for this corporation currently stands at 0.67% with Operating Profit Margin at -1.31%, Pretax Profit Margin comes in at -1.88%, and Net Profit Margin reading is -1.96%. To continue investigating profitability, this company’s Return on Assets is posted at -0.41, Equity is -1.0 and Total Capital is -0.3. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.02.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 4.47 points at the first support level, and at 4.34 for the second support level. However, for the 1st resistance point, the stock is sitting at 4.73, and for the 2nd resistance point, it is at 4.86.
Ratios To Look Out For
For context, SoundHound AI Inc’s Current Ratio is 8.77. On the other hand, the Quick Ratio is 8.77, and the Cash Ratio is 7.84. Considering the valuation of this stock, the price to sales ratio is 29.75, the price to book ratio is 7.15.
Transactions by insiders
Recent insider trading involved MARCUS LAWRENCE, Director, that happened on Aug 20 ’24 when 50000.0 shares were sold. Chief Technology Officer, STONEHOCKER TIMOTHY completed a deal on Jul 11 ’24 to sell 0.21 million shares. Meanwhile, Chief Financial Officer SHARAN NITESH sold 22384.0 shares on Jun 20 ’24.
