SoundHound AI Inc (NASDAQ:SOUN) traded at $19.39 at close of the session on Tuesday, December 17 and made a downward move of -1.52% on its previous day’s price.
Looking at the stock we see that its previous close was $19.69 and the beta (5Y monthly) reads 3.035 with the day’s price range being $17.658 – $19.85. In terms of its 52-week price range, SOUN has a high of $19.97 and a low of $1.62. The company’s stock has gained about 204.87% over that past 30 days.
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SoundHound AI Inc has a market cap of $7.17 billion and is expected to release its quarterly earnings report in January.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 33.73M, with a low of 33.03M and a high of 34.55M. The median projection represents growth squeezing down to 96.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 83.87M, or 82.83% up from figures reported last year.
On the other hand, looking at the outlook for the SOUN stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy.
Based on estimates by 5 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the SoundHound AI Inc (SOUN) stock as a Hold, while 4 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 68.74% off its SMA20 and 142.20% from its 50-day simple moving average. The RSI (14) is pointing at 82.23 while the volatility over the past week is 16.49% and jumps to 14.56% over the past one month. The beta value is 3.32, while the average true range (ATR) is currently pointing at 1.61. The average price target for the stock over the next 12 months is $7, with the estimates having a low of $7 and a high of $9. These price ends are 63.9% and 53.58% off the current price level respectively, although investors could be excited at the prospect of a 63.9% if the SOUN share price touches on the median price of $7.
Coming back to SoundHound AI Inc (NASDAQ:SOUN), we note that the average 3-month trading volume was 45.27 million, while that of the preceding 10-day period stands at 122.69 million. Current shares outstanding are 336.48 million.
The insiders hold 12.26% of the company’s shares while institutions hold 26.04%. The data shows that short shares as of 2024-11-29, stood at 81.65 million at a short ratio of 1.73. This represents a 2440.00 short interest in shares outstanding on 2024-11-29. Shares short rose in November from the previous month at 77.78 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 814.62% up in year-to-date price movement.
