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) stock is trading lower despite reporting strong Q2 results, raising guidance, and announcing the acquisition of Amelia. The company reported a 54% increase in revenue, beat EPS estimates, and expects significant revenue growth in 2024 and 2025. However, the stock is down 4.5% as of Friday.

Portfolio Pulse from Anusuya Lahiri

August 09, 2024 | 3:22 pm

Analysts' ratings for SoundHound AI (NASDAQ:SOUN) over the last quarter show a mix of bullish and somewhat bullish sentiments. The average 12-month price target has increased to $7.5, with a high estimate of $9.00 and a low estimate of $7.00. Analysts from Wedbush, Cantor Fitzgerald, and HC Wainwright & Co. have maintained or raised their ratings and price targets. Despite strong revenue growth, the company faces challenges in profitability, return on equity, return on assets, and debt management.

Portfolio Pulse from Benzinga Insights

August 09, 2024 | 3:00 pm

Wedbush analyst Daniel Ives has reiterated an Outperform rating on SoundHound AI (NASDAQ:SOUN) and maintained a $9 price target.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 2:20 pm

Cantor Fitzgerald has upgraded SoundHound AI (NASDAQ:SOUN) from Neutral to Overweight and raised the price target from $5 to $7.

Portfolio Pulse from Benzinga Newsdesk

August 09, 2024 | 10:37 am

On Thursday, major U.S. indices closed higher, with the Dow Jones Industrial Average rising nearly 1.8%, the S&P 500 surging 2.3%, and the Nasdaq climbing almost 2.9%. Key stocks that gained attention include Palantir Technologies, SoundHound AI, Unity Software, The Trade Desk, and Tesla. Palantir surged 11.25% due to a partnership with Microsoft. SoundHound AI rose 21.16% after acquiring Amelia and beating revenue estimates. Unity Software increased by 3.09% after beating financial estimates. The Trade Desk climbed 3.96% with strong financial results and high customer retention. Tesla rose 3.69% despite a survey showing declining appeal among younger generations.

Portfolio Pulse from Benzinga Neuro

August 09, 2024 | 3:28 am

SoundHound AI shares are trading lower following the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 9:27 pm

SoundHound AI Inc (NASDAQ:SOUN) reported strong Q2 earnings, beating revenue and EPS estimates. The company raised its full-year guidance, citing strong customer momentum and increased demand for voice and conversational AI. Shares rose 7.87% in after-hours trading.

Portfolio Pulse from Adam Eckert

August 08, 2024 | 8:37 pm

SoundHound has raised its FY24 revenue guidance to exceed $80 million and its FY25 revenue guidance to exceed $150 million, following the incorporation of the Amelia acquisition.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 8:22 pm

SoundHound AI (NASDAQ:SOUN) reported better-than-expected Q2 2024 results with an adjusted EPS of $(0.04) beating the $(0.09) estimate and sales of $13.5M surpassing the $13.083M estimate. Sales increased by 54.27% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 8:20 pm

SoundHound AI shares are trading higher following the company's announcement of its acquisition of Amelia AI.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 5:45 pm

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