There’s a new sense of excitement surrounding SoundHound AI Inc. (SOUN)

SoundHound AI Inc. (NASDAQ: SOUN) closed the day trading at $1.62 down -15.62% from the previous closing price of $1.92. In other words, the price has decreased by -$0.3000 from its previous closing price. On the day, 770996 shares were traded. SOUN stock price reached its highest trading level at $1.9200 during the session, while it also had its lowest trading level at $1.6200.

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For a better understanding of SOUN, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.10.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Cantor Fitzgerald on July 01, 2022, initiated with a Neutral rating and assigned the stock a target price of $3.

On June 28, 2022, Wedbush started tracking the stock assigning a Outperform rating and target price of $7.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Oct 28 when STONEHOCKER TIMOTHY sold 66,539 shares for $2.57 per share. The transaction valued at 170,865 led to the insider holds 1,123,714 shares of the business.

STONEHOCKER TIMOTHY sold 22,600 shares of SOUN for $62,227 on Oct 27. The Chief Technology Officer now owns 1,190,253 shares after completing the transaction at $2.75 per share. On Oct 21, another insider, STONEHOCKER TIMOTHY, who serves as the Chief Technology Officer of the company, sold 3,280 shares for $2.93 each. As a result, the insider received 9,621 and left with 1,212,853 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 17.30 while its Price-to-Book (P/B) ratio in mrq is 67.50.

Stock Price History:

Over the past 52 weeks, SOUN has reached a high of $18.14, while it has fallen to a 52-week low of $1.66. The 50-Day Moving Average of the stock is 2.8977, while the 200-Day Moving Average is calculated to be 4.0748.

Shares Statistics:

Over the past 3-months, SOUN traded about 312.70K shares per day on average, while over the past 10 days, SOUN traded about 780.86k shares per day. A total of 197.91M shares are outstanding, with a floating share count of 79.52M. Insiders hold about 3.10% of the company’s shares, while institutions hold 11.00% stake in the company. Shares short for SOUN as of Oct 13, 2022 were 1.26M with a Short Ratio of 2.13M, compared to 920.84k on Sep 14, 2022.

Earnings Estimates

Current recommendations for the stock of the company come from 2 analysts. The consensus estimate for the next quarter is -$0.18, with high estimates of -$0.15 and low estimates of -$0.21.

Analysts are recommending an EPS of between -$0.82 and -$2.57 for the fiscal current year, implying an average EPS of -$1.69. EPS for the following year is -$0.55, with 2 analysts recommending between -$0.45 and -$0.66.

Revenue Estimates

Based on 2 analysts’ estimates, the company’s revenue will be $84.13M in the next fiscal year. The high estimate is $87.7M and the low estimate is $80.57M. The average revenue growth estimate for next year is up 176.70% from the average revenue estimate for this year.