SOUN (SoundHound AI Inc.) stock is in for a key growth catalyst

In the latest session, SoundHound AI Inc. (NASDAQ: SOUN) closed at $1.85 down -3.14% from its previous closing price of $1.91. In other words, the price has decreased by -$0.0600 from its previous closing price. On the day, 4469863 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 $1.7500.

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For a deeper understanding of SoundHound AI Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.10 and its Current Ratio is at 1.10.

Upgrades & Downgrades

On July 01, 2022, Cantor Fitzgerald started tracking the stock assigning a Neutral rating and target price of $3.

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

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Mar 09 when MOHAJER KEYVAN sold 95,000 shares for $2.48 per share. The transaction valued at 235,552 led to the insider holds 1,075,000 shares of the business.

SHARAN NITESH sold 60,000 shares of SOUN for $148,770 on Mar 09. The Chief Financial Officer now owns 465,000 shares after completing the transaction at $2.48 per share. On Mar 09, another insider, ZAGORSEK MICHAEL, who serves as the Chief Operating Officer of the company, sold 42,500 shares for $2.48 each. As a result, the insider received 105,379 and left with 482,500 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 13.23.

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 $0.93. The 50-Day Moving Average of the stock is 2.4400, while the 200-Day Moving Average is calculated to be 2.8436.

Shares Statistics:

For the past three months, SOUN has traded an average of 12.18M shares per day and 13.21M over the past ten days. A total of 197.01M shares are outstanding, with a floating share count of 156.12M. 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 Jan 12, 2023 were 4.99M with a Short Ratio of 10.39M, compared to 3.06M on Dec 14, 2022.

Earnings Estimates

There are 3 different market analysts currently analyzing its stock. The consensus estimate for the next quarter is -$0.1, with high estimates of -$0.05 and low estimates of -$0.13.

Analysts are recommending an EPS of between -$0.82 and -$2.5 for the fiscal current year, implying an average EPS of -$1.39. EPS for the following year is -$0.29, with 3 analysts recommending between -$0.18 and -$0.42.

Revenue Estimates

Based on 3 analysts’ estimates, the company’s revenue will be $46.05M in the next fiscal year. The high estimate is $47.2M and the low estimate is $45.04M. The average revenue growth estimate for next year is up 51.20% from the average revenue estimate for this year.