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

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

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:23 pm

SoundHound AI, Inc. (NASDAQ:SOUN) shares surged on Friday following the announcement of a partnership with Perplexity to enhance its SoundHound Chat AI with conversational AI-powered answer engine capabilities. This collaboration aims to solidify SoundHound's position as a leading voice assistant. Additionally, SoundHound reported a 73% year-over-year increase in top-line results for the first quarter, despite a wider Adjusted EBITDA loss and a contraction in non-GAAP gross margin. The company also reported an adjusted loss per share that beat analyst estimates.

Portfolio Pulse from Nabaparna Bhattacharya

May 10, 2024 | 1:55 pm

Natera, Inc. shares surged 15% in pre-market trading following strong Q1 earnings, outperforming market expectations with lower losses and higher sales. Other stocks also showed significant pre-market movements, with notable gainers including Novavax, AEye, and Sensus Healthcare, and losers like MacroGenics and Progyny due to disappointing financial results.

Portfolio Pulse from Avi Kapoor

May 10, 2024 | 12:44 pm

In Friday's pre-market session, several Information Technology stocks showed significant movement. AEye, Inseego, WiSA Technologies, SoundHound AI, Movano, and Ouster were among the gainers, with notable increases in their stock prices. Conversely, Microvision, Evolv Technologies, Applied Optoelectronics, JFrog, X3 Holdings, and Navitas Semiconductor experienced declines. The movements were largely attributed to the release of Q1 earnings reports.

Portfolio Pulse from Benzinga Insights

May 10, 2024 | 12:07 pm

SoundHound AI's shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 10:57 am

SoundHound AI's shares surged following the announcement of their Q1 financial results, which exceeded market expectations.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 9:47 pm

SoundHound AI Inc (NASDAQ:SOUN) reported Q1 earnings with revenue of $11.6 million, surpassing estimates of $10.104 million and marking a 73% year-over-year increase. The company also beat EPS estimates with an adjusted loss of 7 cents per share against expected 9 cents. Cumulative subscriptions and bookings backlog rose by 80% year-over-year to $682 million. SoundHound ended the quarter with $226 million in cash. The company projects full-year 2024 revenue between $65 million and $77 million, against estimates of $69.49 million. Shares rose 0.4% after hours to $4.75.

Portfolio Pulse from Adam Eckert

May 09, 2024 | 8:41 pm

SoundHound AI projects its fiscal year 2024 revenue to be in the range of $65 million to $77 million, compared to the estimated $69.49 million by analysts.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:31 pm

SoundHound AI (NASDAQ:SOUN) reported Q1 2024 adjusted EPS of $(0.07), surpassing the $(0.09) estimate, with sales of $11.600M exceeding the $10.104M forecast. This represents a 72.95% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 8:31 pm

Jim Cramer discussed various companies on CNBC's 'Mad Money Lightning Round,' expressing skepticism about SoundHound AI due to its lack of profitability and caution about OneMain Holdings due to its riskiness, despite potential benefits from expected Fed rate cuts. He plans to revisit Cracker Barrel, praised General Motors, and endorsed Heartland Financial as a solid regional bank. Cramer was not favorable towards NextEra Energy due to its losses. Notably, OneMain Holdings raised its dividend, and UMB announced plans to acquire Heartland Financial.

Portfolio Pulse from Avi Kapoor

May 03, 2024 | 1:26 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.