SoundHound AI Inc (NASDAQ:SOUN) price on Thursday, March 20, fall -2.64% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $9.59.
A look at the stock’s price movement, the close in the last trading session was $9.85, moving within a range at $9.53 and $10.17. The beta value (5-Year monthly) was 2.843. Turning to its 52-week performance, $24.98 and $3.50 were the 52-week high and 52-week low respectively. Overall, SOUN moved -13.37% over the past month.
SoundHound AI Inc’s market cap currently stands at around $3.83 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Feb-26.
Analysts have a consensus estimate of 30.89M for the company’s revenue for the quarter, with a low and high estimate of 30.1M and 33.61M respectively. The average forecast suggests up to a 166.40% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 166.17M, representing a 96.20% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SOUN is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in Hold category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 4 recommend SOUN as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SOUN’s current price about -0.26% and -22.90% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 43.46, while 7-day volatility ratio is 7.64% and 10.48% in the 30-day chart. Further, SoundHound AI Inc (SOUN) has a beta value of 2.89, and an average true range (ATR) of 1.14. Analysts have given the company’s stock an average 52-week price target of $13, forecast between a low of $13 and high of $13. Looking at the price targets, the low is -35.56% off current price level while to achieve the yearly target high, price needs to move -35.56%. Nonetheless, investors will most likely welcome a -35.56% jump to $13 which is the analysts’ median price.
If we refocus on SoundHound AI Inc (NASDAQ:SOUN), historical trading data shows that trading volumes averaged 28.9 over the past 10 days and 54.75 million over the past 3 months. The company’s latest data on shares outstanding shows there are 361.10 million shares.
The 10.78% of SoundHound AI Inc’s shares are in the hands of company insiders while institutional holders own 32.84% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 119.72 million on 2025-02-28, giving us a short ratio of 2.44. The data shows that as of 2025-02-28 short interest in SoundHound AI Inc (SOUN) stood at 3338.0002 of shares outstanding, with shares short rising to 101.8 million registered in 2025-01-31. Current price change has pushed the stock -51.66% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SOUN stock continues to rise going into the next quarter.
