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 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

Software stocks, including ADBE, ASAN, BBAI, CRWD, MDB, MSFT, NET, PLTR, SNOW, SOUN, TWLO, are trading higher after Fed Chair Powell indicated that a rate hike is unlikely in the next policy move, leading to a drop in yields.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 7:22 pm

SoundHound AI (NYSE:SOUN) has seen a 24.49% increase in short interest, with 50.35 million shares sold short, representing 21.4% of its float. This indicates a bearish market sentiment, although it's not a definitive predictor of stock price movement. SoundHound AI has a higher short interest compared to its peers, with the average being 10.61%.

Portfolio Pulse from Benzinga Insights

April 24, 2024 | 7:15 pm

Software stocks, including ASAN, CRWD, INTU, NET, NOW, PANW, SNOW, SOUN, TEAM, ZM, and ZS, are trading higher due to overall tech strength as Treasury yields fall.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 6:41 pm

Today's whale activity in the Information Technology sector highlighted significant options trading across various companies, indicating bullish, bearish, and neutral sentiments. Notable trades were observed in NVDA, APH, AMD, CLSK, MSFT, SMCI, IREN, AVGO, CDNS, and SOUN, with varying expiration dates, strike prices, and sentiments. This activity could signal upcoming movements in these stocks based on the large sums of money involved and the strategic positions taken by 'whales' in the market.

Portfolio Pulse from Benzinga Insights

April 23, 2024 | 5:35 pm

Tech, AI, and software stocks are trading lower due to an increase in Treasury yields, affecting companies like ADSK, AI, ARM, AVGO, BB, BBAI, CRWD, DOCU, GFS, HUBS, MRVL, OKTA, PANW, PLTR, SNOW, SOUN, and ZS.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:36 pm

Tech sector stocks are down due to market uncertainty and doubts about potential rate cuts.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 7:38 pm

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