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

6.71

Mkt cap

2.5B

Volume

18M

High

6.90

P/E Ratio

-18.00

52-wk high

10.25

Low

6.38

Div yield

N/A

52-wk low

1.61

SoundHound AI Inc (NASDAQ:SOUN) reported Q4 earnings with an 80% year-over-year revenue increase to $17.147 million, missing estimates. The company had a loss of 7 cents per share, also below expectations. It highlighted a backlog growth to $661 million and a cash balance over $200 million. SoundHound anticipates 2024 revenue between $63 million and $77 million, with 2025 revenue expected to exceed $100 million. Shares dropped 11.6% after hours following the announcement.

Portfolio Pulse from Adam Eckert

February 29, 2024 | 9:33 pm

In Thursday's after-market session, several information technology stocks showed significant movement. Dell Technologies, NetApp, and Autodesk reported their quarterly earnings, leading to substantial gains in their stock prices. Conversely, SoundHound AI, Inuvo, and BigBear.ai Holdings experienced declines following their earnings reports. Other notable movers included WiSA Technologies, GSE Systems, Argo Blockchain, Arlo Technologies, Ostin Technology Group, and Peraso.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 9:31 pm

SoundHound AI's shares dropped following the announcement of disappointing Q4 financial results, missing market expectations.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:31 pm

SoundHound AI (NASDAQ:SOUN) reported Q4 earnings with a miss on estimated earnings by -17.0%, posting an EPS of $-0.07 against an estimate of $-0.06. Revenue increased by $7.65 million from the same period last year. Despite missing EPS estimates last quarter, the share price increased by 3.0% the following day. The company has shown a pattern of revenue growth over the past quarters.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 9:25 pm

SoundHound AI (NASDAQ:SOUN) reported Q4 2023 earnings with a GAAP EPS of $(0.070), missing the $(0.060) estimate, and sales of $17.147M, missing the $17.746M estimate. This represents an 80.48% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:22 pm

SoundHound AI Inc (NASDAQ:SOUN) is in focus ahead of its Q4 earnings report, expected to post a loss of 6 cents per share with $17.746 million in revenue. The stock surged over 70% in the last five sessions and nearly 300% in the last month, partly due to speculation about AI in cellular tech and Nvidia's investments. Northland Capital Markets downgraded the stock from Outperform to Market Perform. Shares were up 9.46% at $6.94 at the time of writing.

Portfolio Pulse from Adam Eckert

February 29, 2024 | 3:16 pm

Shares of AI stocks are experiencing an uptrend, potentially due to C3.ai's strong Q3 financial results. This positive performance could be influencing investor sentiment towards AI-focused companies.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 3:00 pm

Recent insider sales have been reported for Sempra (SRE), Owens & Minor (OMI), SoundHound AI (SOUN), and Eversource Energy (ES). These sales come after various company-specific news, such as earnings reports and stake disclosures, potentially indicating insiders' views on the stocks' current valuations.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 12:51 pm

Numerous companies are scheduled to report their earnings on February 29, 2024, covering a wide range of industries from technology to healthcare. This includes both expected quarterly profits and losses, with significant revenues anticipated for some. The diversity of sectors represented, from energy to financial services, highlights the broad economic implications of these reports.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 10:15 am

Northland Capital Markets analyst Michael Latimore downgraded SoundHound AI (NASDAQ:SOUN) from Outperform to Market Perform, indicating a change in the firm's outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:29 pm

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