SoundHound AI Inc [SOUN] stock prices are up 18.15% to $6.12 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The SOUN shares have gain 13.54% over the last week, with a monthly amount glided 28.03%, and 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.
The stock price of SoundHound AI Inc [SOUN] has been fluctuating between $1.49 and $10.25 over the past year. Currently, Wall Street analysts expect the stock to reach $8.13 within the next 12 months. SoundHound AI Inc [NASDAQ: SOUN] shares were valued at $6.12 at the most recent close of the market. An investor can expect a potential return of 32.84% based on the average SOUN price forecast.
Analyzing the SOUN fundamentals
The SoundHound AI Inc [NASDAQ:SOUN] reported sales of 55.47M for trailing twelve months, representing a surge 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. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.02.
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 5.53 points at the first support level, and at 4.95 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.41, and for the 2nd resistance point, it is at 6.71.
Ratios To Look Out For
It’s worth pointing out that SoundHound AI Inc [NASDAQ:SOUN]’s Current Ratio is 8.77. Also, the Quick Ratio is 8.77, while the Cash Ratio stands at 7.84. Considering the valuation of this stock, the price to sales ratio is 39.58, the price to book ratio is 9.51.
Transactions by insiders
Recent insider trading involved SHARAN NITESH, Chief Financial Officer, that happened on Sep 20 ’24 when 39728.0 shares were sold. Chief Operating Officer, ZAGORSEK MICHAEL completed a deal on Sep 20 ’24 to sell 42001.0 shares. Meanwhile, Chief Technology Officer STONEHOCKER TIMOTHY sold 20337.0 shares on Sep 20 ’24.
