Streetbeat News

SOUN

SoundHound AI, Inc.

https://www.soundhound.com

Industry

Software - Application

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.

Open

6.76

Mkt cap

2.3B

Volume

35M

High

6.77

P/E Ratio

-15.90

52-wk high

10.25

Low

6.22

Div yield

N/A

52-wk low

1.62

SoundHound AI shares are experiencing an increase in their trading value, driven by the ongoing momentum in the AI stock market.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 8:35 pm

In Thursday's intraday session, several Information Technology stocks experienced significant movements. Notably, CompoSecure, Dave, OneSpan, GSI Technology, GSE Systems, and SoundHound AI saw substantial gains, largely attributed to their recent Q4 earnings reports. Conversely, Methode Electronics, Infobird Co, MMTEC, Airship AI Holdings, CPS Technologies, and Cyngn faced declines, with earnings reports influencing several of these movements.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 5:31 pm

The broader tech and software sector is experiencing a downturn, primarily influenced by weaknesses in Apple and GitLab. This decline is attributed to a potential industry pullback after a recent surge in AI-related stocks.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 7:56 pm

In Tuesday's intraday session, several information technology stocks experienced significant movements. Notably, Datasea, Airship AI Holdings, and Dave saw substantial gains, with increases of 86.1%, 84.85%, and 56.57% respectively. On the downside, SEMrush Holdings, GitLab, and Argo Blockchain faced notable declines. The movements were largely attributed to recent earnings releases for some companies.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 5:33 pm

Analyst ratings for SoundHound AI (NASDAQ:SOUN) show a diverse range of perspectives, with recent updates indicating a bullish trend. The average 12-month price target is $6.38, marking a 37.2% increase from the previous target of $4.65. SoundHound AI's financial performance reveals significant revenue growth but challenges in profitability, asset utilization, and debt management. Analysts from firms like HC Wainwright & Co., Cantor Fitzgerald, Wedbush, DA Davidson, and Ladenburg Thalmann have adjusted their ratings and price targets, reflecting optimism about the company's future.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:01 pm

HC Wainwright & Co. analyst Scott Buck has maintained a Buy rating on SoundHound AI (NASDAQ:SOUN) and increased the price target from $5 to $7.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:59 pm

SoundHound AI Inc (NASDAQ:SOUN) stock experienced a Golden Cross, indicating a bullish market trend, with its stock up about 250% this year. The momentum has been particularly strong since early February, driven by investments from NVIDIA Corp (NASDAQ:NVDA) and SoftBank. Despite missing earnings expectations, SoundHound's positive revenue guidance for 2024 and 2025 has boosted investor confidence. The company's advancements in voice and audio recognition technology and strategic partnerships are key factors in its growth.

Portfolio Pulse from Surbhi Jain

March 01, 2024 | 7:10 pm

SoundHound AI Inc (NASDAQ:SOUN) received positive outlooks from Wedbush and Cantor Fitzgerald analysts despite a slight top-line miss in Q4 results. Wedbush raised its price target from $5 to $9, highlighting a 100% Y/Y increase in FY23 subscription and bookings backlog to $661.0 million, driven by product royalties and automotive segment strength. The company's FY24 revenue guidance aligns with expectations, and its acquisition of SYNQ3 Restaurant Solutions positions it as the largest U.S. voice AI provider for restaurants. Cantor Fitzgerald raised its price target from $3.60 to $5.80, noting the redefined backlog metric and the potential for continued growth above 40%. However, SOUN shares dropped 13.8% to $6.4.

Portfolio Pulse from Shivani Kumaresan

March 01, 2024 | 6:26 pm

Zscaler, Inc. (ZS) shares fell by 10.1% following its Q2 earnings report, despite better-than-expected results. Other stocks showed significant movement, with BioVie Inc. (BIVI) and Adial Pharmaceuticals, Inc. (ADIL) among the top gainers. Losers included GigCapital5, Inc. (GIA) and Fisker Inc. (FSR), with FSR dropping 44.6% due to concerns about its going concern status.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 6:19 pm

In Friday's intraday session, notable movements were observed in the Information Technology sector. MMTEC and Minim saw significant gains, while NCR Voyix and SoundHound AI experienced notable declines. Dell Technologies, Everbridge, and NetApp also reported substantial increases following their earnings reports.

Portfolio Pulse from Benzinga Insights

March 01, 2024 | 5:34 pm

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