SoundHound AI (NASDAQ:SOUN) Receives Neutral Rating from LADENBURG THALM/SH SH

SoundHound AI (NASDAQ:SOUN)‘s stock had its “neutral” rating reiterated by equities researchers at LADENBURG THALM/SH SH in a note issued to investors on Wednesday,Benzinga reports. They presently have a $7.00 price target on the stock. LADENBURG THALM/SH SH’s target price indicates a potential downside of 7.41% from the stock’s current price.

SOUN has been the topic of several other research reports. Northland Securities boosted their price target on shares of SoundHound AI from $5.50 to $6.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. DA Davidson restated a “buy” rating and set a $9.50 target price on shares of SoundHound AI in a research report on Monday, September 30th. Wedbush reiterated an “outperform” rating and issued a $9.00 price target on shares of SoundHound AI in a research report on Thursday, September 26th. Cantor Fitzgerald upgraded SoundHound AI from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $5.00 to $7.00 in a research report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of SoundHound AI in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, SoundHound AI presently has an average rating of “Moderate Buy” and an average price target of $7.58.

SoundHound AI Trading Down 2.7 %

Shares of SoundHound AI stock opened at $7.56 on Wednesday. The firm has a market cap of $2.71 billion, a PE ratio of -19.38 and a beta of 2.71. The stock has a 50 day moving average of $5.18 and a 200 day moving average of $4.92. SoundHound AI has a 12 month low of $1.62 and a 12 month high of $10.25.

Insider Transactions at SoundHound AI

In other news, CEO Keyvan Mohajer sold 63,544 shares of SoundHound AI stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the sale, the chief executive officer now owns 2,299,148 shares of the company’s stock, valued at approximately $11,311,808.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other SoundHound AI news, insider James Ming Hom sold 21,024 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $4.88, for a total transaction of $102,597.12. Following the transaction, the insider now owns 865,965 shares of the company’s stock, valued at approximately $4,225,909.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Keyvan Mohajer sold 63,544 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $4.92, for a total transaction of $312,636.48. Following the completion of the sale, the chief executive officer now directly owns 2,299,148 shares of the company’s stock, valued at $11,311,808.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 327,275 shares of company stock worth $1,606,644. Insiders own 12.28% of the company’s stock.

Hedge Funds Weigh In On SoundHound AI

A number of large investors have recently bought and sold shares of the business. Independent Advisor Alliance boosted its holdings in shares of SoundHound AI by 85.3% in the 3rd quarter. Independent Advisor Alliance now owns 36,663 shares of the company’s stock valued at $171,000 after buying an additional 16,880 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in SoundHound AI in the third quarter valued at approximately $431,000. Charles Schwab Investment Management Inc. grew its holdings in SoundHound AI by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,582,206 shares of the company’s stock worth $12,033,000 after purchasing an additional 189,109 shares during the last quarter. Intech Investment Management LLC purchased a new position in SoundHound AI in the third quarter worth $305,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of SoundHound AI during the third quarter worth $92,000. Institutional investors own 19.28% of the company’s stock.

SoundHound AI Company Profile

SoundHound AI, Inc develops independent voice artificial intelligence (AI) solutions that enables businesses across automotive, TV, and IoT, and to customer service 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 Application Programming Interfaces (API) for text and voice queries, support for custom commands, extensive library of content domains, inclusive software development kit platforms, collaboration capabilities, diagnostic tools, and built-in analytics; SoundHound Chat AI that integrates with knowledge domains, pulling real-time data like weather, sports, stocks, flight status, and restaurants; and SoundHound Smart Answering is built to offer customer establishments custom AI-powered voice assistant.