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

In Friday's pre-market session, several Information Technology stocks showed significant movement. Gainers included GRIID Infrastructure, Intellicheck, MariaDB, My Size, UTStarcom Holdings, and Materialise, with increases ranging from 7.63% to 26.4%. On the losing side, Abits Group, Bit Origin, SMX, Canaan, SoundHound AI, and MMTEC saw declines between 6.09% and 14.1%. Notably, Intellicheck's rise followed its Q4 earnings report.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 1:06 pm

Lululemon Athletica Inc. (NASDAQ:LULU) reported better-than-expected Q4 results but issued a weak Q1 forecast, leading to a 12.8% drop in pre-market trading. Other stocks also recorded losses in pre-market trading, including Ispire Technology Inc. (NASDAQ:ISPR), MMTec, Inc. (NASDAQ:MTC), SoundHound AI, Inc. (NASDAQ:SOUN), Grifols, S.A. (NASDAQ:GRFS), NIKE, Inc. (NYSE:NKE), Dutch Bros Inc. (NYSE:BROS), BeiGene, Ltd. (NASDAQ:BGNE), and Lufax Holding Ltd (NYSE:LU), with various reasons for their declines.

Portfolio Pulse from Avi Kapoor

March 22, 2024 | 9:40 am

SoundHound AI's stock (SOUN) trades lower following a downgrade by Cantor Fitzgerald from Overweight to Underweight, with a reduced price target from $5.8 to $4.9.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:45 pm

Cantor Fitzgerald analyst Brett Knoblauch downgraded SoundHound AI (SOUN) from Overweight to Underweight and reduced the price target from $5.8 to $4.9.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:10 pm

Recent options trading activity in SoundHound AI (NASDAQ:SOUN) indicates a bearish sentiment among high-rolling investors, with a significant volume of trades targeting a price range of $5.0 to $12.0. Despite a split sentiment, the majority of trades are bearish. The company's stock price is currently down -3.72% at $8.02, with analysts setting an average price target of $7.76. SoundHound AI specializes in conversational intelligence and is expected to release its next earnings in 50 days.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 4:16 pm

Peraso Inc. reported worse-than-expected Q4 EPS results, causing its shares to fall by over 23%. Other stocks experienced significant movements, with notable gainers including Ontrak, Fusion Pharmaceuticals, and Spire Global, among others. Losers included Greenwave Technology Solutions, Seelos Therapeutics, and Comtech Telecommunications, with various reasons such as disappointing financial results, downgrades, and restructuring of debt.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 5:48 pm

SoundHound AI, Inc. (SOUN) shares are trading lower premarket after launching an innovative in-vehicle voice assistant that runs on NVIDIA Corporation's (NVDA) DRIVE platform. The SoundHound Chat AI offers real-time and generative AI capabilities for in-vehicle use, promising fast, accurate information even without connectivity. The collaboration aims to enhance the driving experience and safety. SoundHound AI's FY23 revenue growth was 47.36%, influenced by various factors including the macroeconomic environment. Investors are advised to consider economic conditions when evaluating SoundHound AI's stock.

Portfolio Pulse from Lekha Gupta

March 19, 2024 | 12:26 pm

As of March 18, 2024, four tech stocks: Veritone, Inc. (VERI), SoundHound AI, Inc. (SOUN), MicroStrategy Incorporated (MSTR), and Arlo Technologies, Inc. (ARLO) are considered overbought with RSI values above 70, indicating potential short-term performance concerns. VERI and ARLO reported better-than-expected Q4 results, while SOUN reported weaker results. MSTR announced a convertible senior notes offering.

Portfolio Pulse from Avi Kapoor

March 18, 2024 | 12:23 pm

Benzinga's Stock Whisper Index highlights five stocks: Rivian Automotive, Comcast Corp, Lithium Americas Corp, SoundHound AI Inc, and Canadian Natural Resources Ltd. Rivian's new SUVs and production plans, Comcast's Academy Awards success, Lithium Americas' Department of Energy loan, SoundHound's revenue growth and Nvidia investment, and Canadian Natural Resources' financial results and dividend increase are key points of interest.

Portfolio Pulse from Chris Katje

March 15, 2024 | 2:50 pm

DA Davidson analyst Gil Luria has maintained a Buy rating on SoundHound AI (NASDAQ:SOUN) and increased the price target from $7.5 to $9.5.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 1:39 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.