SoundHound AI Stock Soars Amid Analyst Optimism and Expanding AI Applications

Forecasting The Future: 7 Analyst Projections For SoundHound AI - SoundHound AI (NASDAQ:SOUN)

SoundHound AI SOUN has been analyzed by 7 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 2 2 0 0 Last 30D 1 0 0 0 0 1M Ago 0 1 0 0 0 2M Ago 1 0 2 0 0 3M Ago 1 1 0 0 0 Analysts have set 12-month price targets for SoundHound AI, revealing an average target of $12.64, a high estimate of $26.00, and a low estimate of $7.00. This upward trend is apparent, with the current average reflecting a 53.96% increase from the previous average price target of $8.21. Diving into Analyst Ratings: An In-Depth Exploration An in-depth analysis of recent analyst actions unveils how financial experts perceive SoundHound AI. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Scott Buck HC Wainwright & Co. Raises Buy $26.00 $8.00 Daniel Ives Wedbush Raises Outperform $22.00 $10.00 Scott Buck HC Wainwright & Co. Raises Buy $8.00 $7.00 Glenn Mattson Barclays Maintains Neutral $7.00 $7.00 Glenn Mattson Ladenburg Thalmann Maintains Neutral $7.00 $7.00 Gil Luria DA Davidson Maintains Buy $9.50 $9.50 Daniel Ives Wedbush Maintains Outperform $9.00 $9.00 Key Insights: Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to SoundHound AI. This information provides a snapshot of how analysts perceive the current state of the company. Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of SoundHound AI compared to the broader market. Price Targets: Analysts predict movements in price targets, offering estimates for SoundHound AI's future value. Examining the current and prior targets offers insights into analysts' evolving expectations. Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into SoundHound AI's market standing. Stay informed and make well-considered decisions with our Ratings Table. Stay up to date on SoundHound AI analyst ratings. Unveiling the Story Behind SoundHound AI SoundHound AI Inc is an innovator of conversational intelligence, offering an independent Voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to customers. Key Indicators: SoundHound AI's Financial Health Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence. Revenue Growth: SoundHound AI's remarkable performance in 3 months is evident. As of 30 September, 2024, the company achieved an impressive revenue growth rate of 89.13%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector. Net Margin: SoundHound AI's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of -86.68%, the company may face hurdles in effective cost management. Return on Equity (ROE): SoundHound AI's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -8.37%, the company may encounter challenges in delivering satisfactory returns for shareholders. Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -5.68%, the company may need to address challenges in generating satisfactory returns from its assets. Debt Management: SoundHound AI's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.15. The Significance of Analyst Ratings Explained Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter. Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error. Breaking: Wall Street's Next Big Mover Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. Click here for urgent details. This article was generated by Benzinga's automated content engine and reviewed by an editor. Market News and Data brought to you by Benzinga APIs

SoundHound AI shares surge on raised $22 price target By Investing.com

On Monday, SoundHound AI Inc. (NASDAQ: NASDAQ:SOUN) experienced a 7% increase in premarket trading, following an analyst's decision to raise their price target on the stock. This uptick adds to the significant growth the company has seen recently, with a 24% rise on Friday and an overall increase of 124% over the past month. Year to date, SoundHound AI's stock has soared nearly 700%. The stock's current trading price stands at $17.75, which surpasses the previous price target. The new price target of $22 is the highest among Wall Street analysts, more than doubling the next highest target of $9.50. This adjustment reflects a bullish outlook on the company's potential in the rapidly evolving AI market. The revision in the price target to $22 from the former $10 was accompanied by an affirmation of an Outperform rating. The analyst cited the "elevated momentum within the SOUN growth story" and the increasing demand for SoundHound's voice AI solutions as key reasons for the update. Looking ahead towards 2025, the analyst emphasized the early stage at which SoundHound is capitalizing on growth initiatives, particularly in enterprise AI, which is seen as a potential $1 trillion opportunity over the coming years. SoundHound AI Inc. is recognized for its innovative technology stack, which offers various applications for Chat AI integrations across its three main sectors: automotive, restaurants, and e-commerce. The company is gaining traction with its recurring revenue software model, which is expected to enhance its position in voice and conversational AI while expanding into new verticals and improving monetization capabilities. The analyst expressed confidence in SoundHound's long-term prospects, stating, "We believe that SOUN is a long-term winner in the AI Revolution." The company's advancements in voice AI place it at the forefront of a transformative era in technology, with the potential to integrate its solutions across multiple industries.

Is SoundHound AI Stock a Buy? | The Motley Fool

In a nutshell, SoundHound AI is a voice AI company, meaning it develops software that helps humans communicate with AI models. Most people are familiar with how this works. For example, if you've ever asked an Amazon Alexa-enabled device a question, your voice was used to trigger a response from an AI model. However, one thing that sets SoundHound apart is that unlike Amazon's Alexa, Apple's Siri, or other big-tech sponsored devices, SoundHound is a relatively small company focused on just voice AI. That is, SoundHound's AI tools are not linked to specific branded hardware, like an Amazon Echo or Apple iPhone. Instead, SoundHound works with clients to integrate voice-enabled AI features using their own equipment. Accordingly, companies that may be hesitant to share their data and introduce big tech to their operations (and, in turn, their customers) may be more comfortable with a company like SoundHound. What's more, SoundHound is also a leader in the space. It supports 25 languages and can understand many accents within its language library. Finally, the proof is in the pudding. Global brands like Kia, Honda, and Krispy Kreme have adopted SoundHound's technology because of its speed, accuracy, and ability to deliver real-time, humanlike conversation. Turning to the company's financials, it's important to note that SoundHound is squarely in the growth stage of its lifecycle. At this point, SoundHound needs to increase its revenue by landing new clients and expanding its relationships with existing clients. And on that front, the company is performing well. Total revenue in its most recent quarter (ended Sept. 30) grew to $25 million, up 89% from a year earlier. Moreover, SoundHound's client base has expanded, thus decreasing its reliance on any particular customer. For example, one year ago, the company's largest client accounted for 72% of SoundHound's revenue; today, its largest client provides only 12% of its total revenue. Similarly, automotive customers represented 90% of SoundHound's customer base one year ago and now represent less than 25%. To sum up, SoundHound AI is growing its list of customers as the company expands into new industries like healthcare, financial services, and insurance while maintaining its already established partnerships in the restaurant and automotive sectors. It should go without saying that SoundHound AI is not a stock for every investor. The company has yet to turn a profit and does not generate positive free cash flow. That puts the stock out of bounds for value investors or those seeking passive income from their investments. However, for growth-oriented investors, SoundHound is a stock worth considering. Its rapid revenue growth, coupled with its cutting-edge voice AI technology, make it a compelling choice for investors seeking shares in a hypergrowth stock within the AI sector.

A Closer Look at SoundHound AI's Options Market Dynamics - SoundHound AI (NASDAQ:SOUN)

Financial giants have made a conspicuous bearish move on SoundHound AI. Our analysis of options history for SoundHound AI SOUN revealed 17 unusual trades. Delving into the details, we found 41% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $168,730, and 13 were calls, valued at $1,216,924. Expected Price Movements Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $25.0 for SoundHound AI over the recent three months. Insights into Volume & Open Interest Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for SoundHound AI's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of SoundHound AI's whale trades within a strike price range from $10.0 to $25.0 in the last 30 days. SoundHound AI Call and Put Volume: 30-Day Overview Biggest Options Spotted: Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume SOUN CALL SWEEP BEARISH 01/17/25 $6.1 $5.95 $5.95 $15.00 $297.5K 7.5K 6.6K SOUN CALL SWEEP BEARISH 01/17/25 $6.05 $5.95 $5.95 $15.00 $296.9K 7.5K 6.8K SOUN CALL TRADE BEARISH 12/20/24 $7.4 $7.25 $7.3 $10.00 $146.0K 11.7K 52 SOUN CALL TRADE BULLISH 04/17/25 $7.5 $7.25 $7.5 $15.00 $75.0K 1.2K 103 SOUN CALL TRADE BEARISH 02/21/25 $3.2 $3.1 $3.1 $25.00 $62.0K 2.4K 530 About SoundHound AI SoundHound AI Inc is an innovator of conversational intelligence, offering an independent Voice AI platform that enables businesses across industries to deliver high-quality conversational experiences to customers. In light of the recent options history for SoundHound AI, it's now appropriate to focus on the company itself. We aim to explore its current performance. SoundHound AI's Current Market Status Currently trading with a volume of 34,100,981, the SOUN's price is up by 3.21%, now at $19.46. RSI readings suggest the stock is currently may be overbought. Anticipated earnings release is in 69 days. What The Experts Say On SoundHound AI 1 market experts have recently issued ratings for this stock, with a consensus target price of $22.0. Unusual Options Activity Detected: Smart Money on the Move Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Wedbush has decided to maintain their Outperform rating on SoundHound AI, which currently sits at a price target of $22. Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely. If you want to stay updated on the latest options trades for SoundHound AI, Benzinga Pro gives you real-time options trades alerts. SOUNSoundHound AI Inc$19.523.50%WatchlistOverviewMarket News and Data brought to you by Benzinga APIs

Why SoundHound AI Stock Skyrocketed Again This Week | The Motley Fool

After rocketing more than 40% at its high this week, SoundHound AI (SOUN -11.01%) stock gave back much of those gains. But shares were still higher by about 10.3% for the week, as of late Thursday, according to data provided by S&P Global Market Intelligence. The week is capping off a massive run for shares of the maker of conversational artificial intelligence (AI) technology solutions over the last month. The stock has more than tripled in that time, bringing year-to-date returns to 780%. The big catalyst that drove SoundHound shares higher this week was a very bullish report from a widely followed Wall Street tech analyst. Wedbush's Dan Ives thinks investors should be buyers of SoundHound and raised his price target from $10 to $22 per share this week, according to reports. "SoundHound represents an underappreciated pure-play AI company," Ives wrote. "The company is likely to expand its total addressable market and growth trajectory in 2025." That comes as SoundHound has been increasing revenue guidance throughout 2024. After its first-quarter report in May, the company raised projections for full-year revenue to a midpoint of $71 million. Now management predicts 2024 revenue will be in the range of $82 million to $85 million. And the 2025 outlook is for sales to be in the range of $155 million to $175 million. SoundHound's transformative acquisition of enterprise AI software company Amelia closed in the third quarter. That's helping the company expand into markets most notably for enterprise conversational AI in healthcare. In his report, Ives said, "We believe that SoundHound is a long-term winner in the AI revolution as the innovative tech stack provides various use cases for chat AI integrations." Wedbush believes new verticals including healthcare will continue to improve the ability to monetize its technology. SoundHound is still not profitable, however, and the stock's parabolic move now has it valued at a forward price-to-sales (P/S) ratio of about 83. That's a very high level of risk investors need to consider.

EXCLUSIVE: SoundHound AI CEO On 882% Growth -- 'We're Just Getting Started' - SoundHound AI (NASDAQ:SOUN)

CEO Keyvan Mohajer highlights organic growth, acquisitions, and automotive advances as key drivers for future success. After SoundHound AI's SOUN breakthrough in 2024, Benzinga caught up with CEO Keyvan Mohajer to discuss the company's success, artificial intelligence and plans for the future. Benzinga: SoundHound is closing the year in the headlines after being a relatively overlooked company at the beginning of the year. What was the key moment when the market started giving you credit for all the hard work? Mohajer: What I constantly tell my team is that we have to do a thousand things right. A subset of those will eventually bring the attention that we deserve, but when that moment comes, everything we've done right up until then matters. The key moment I'd highlight is the shift among our customers and the industry as a whole. For most businesses now, AI adoption is no longer an exploration within their innovation budgets -- it's a mandate. In that context, SoundHound is in a prime position. Our ability to combine proprietary voice AI technology with sophisticated large language models has allowed us to deliver immense value. In addition, our three-pillar business strategy gives us a unique advantage, enabling us to create a flywheel effect and shape the voice commerce ecosystem of the future. Benzinga: You have a "three pillars of revenue" business model. After a year of revenue growth, can you summarize how these pillars synchronize and where the next growth could come from? Mohajer: Our pillar one revenue comes from building AI voice assistants for products, like vehicles, TVs, and smart devices, and our pillar two revenue comes from creating voice AI service agents that businesses can deploy with their customers and employees. While these two pillars can succeed independently, we do see a big opportunity to bring them together to create a voice AI ecosystem in a way that generates new revenue streams for device manufacturers, and new leads for customer-centered businesses. This will become our third pillar. To be more specific, users already speak to their car's AI Assistant, which we power, and they already order food by speaking to the AI agent of a restaurant that we also power. With pillar three, you don't need to go to the drive-through and wait in line. You can speak to your car and place your order in advance. Your car's AI agent will speak to the restaurant's AI agent to get your task done. At CES, SoundHound will demonstrate this concept, called the "voice commerce ecosystem," which will ultimately allow people to seamlessly conduct transactions -- from ordering food to making appointments or booking tickets -- via AI agents directly from cars or TVs just by speaking naturally. We see AI agents as a huge opportunity, with networks of them communicating with each other to deliver information, process transactions, and improve the lives of both consumers and human employees. Benzinga: In 2024, you fortified the company's portfolio with the acquisitions of Amelia and Allset. What challenges have you encountered in those efforts? Mohajer: We're extremely fortunate to find businesses that had incredible synergies with what we were already doing. Each has helped us expand our reach into new and exciting markets. Integrating new teams and company cultures, realizing cost and revenue synergies, and bringing the best out of each other is a challenge we don't take lightly. But for the most part, we are very pleased with our acquisitions. We are now in an impressive range of vertical industries, including highly regulated spaces like health care and financial services, where our technology is deployed with seven of the top 10 global institutions. Benzinga: Your market cap skyrocketed, but so did your market cap to net cash ratio. Meanwhile, your critics often discuss cash burn and stock-based compensation. What are your expectations for the firm's finances in 2025? Mohajer: We have a strong cash position and constantly calibrate a healthy balance of investing in growth and pursuing profitability. In the third quarter, we reported a revenue increase of 89% year-over-year, and we expect this year's revenue will be in the range of $82-85 million. Next year is looking like $155-$175 million in revenue, and we've also predicted that we'll be adjusted EBITDA positive by the end of next year. Benzinga: Considering your success with Stellantis STLA, the automotive industry seems like a natural home for SoundHound's technology. With autonomous vehicles on the horizon and companies like Waymo expanding domestically, is the arrival of your technology into these segments inevitable? Mohajer: We're proud of the progress we've made with automotive. In addition to rolling out the most sophisticated in-vehicle voice assistant on the market across a broad range of Stellantis brands, we also work with leading global automakers like Hyundai and Kia, and we're making gains in the growing EV space, with four exciting brands signed up to use our conversational AI. In terms of our technology, we see endless opportunities within automotive -- including deploying our technology as part of the move to autonomous vehicles. Benzinga: At a $7.5 billion in market cap, SoundHound is in an excellent position to continue rising in 2025. What could we expect in terms of organic growth vs. acquisitions? Mohajer: We have been experiencing organic growth exceeding 50% for the last several years, driven by increasing commercial traction of our solutions. With the immense opportunities created by generative AI and the accelerating pace of our end markets, we expanded our approach this year to include M&A. This shift has contributed to our momentum, reflected in our last quarter's growth rate of 89%. We believe programmatic M&A is important, particularly in rapidly transforming industries. That said, we will continue to invest organically across all pillars of our business because the breakthrough opportunities are tremendous. When acquisition opportunities arise that (1) align with and amplify our strategy, (2) help us move from point A to point B faster or more efficiently, (3) can be effectively operationalized, and (4) come at an attractive price, we won't hesitate to take action. Benzinga: Is there anything else you want to tell our readers? Mohajer: We're lucky to have had some great champions, investors, partners and customers out there who have really believed in SoundHound AI and our vision. Today, our technology powers hundreds of global enterprise brands, thousands of restaurant and retail locations, and millions of vehicles and devices -- and we're just getting started. SOUN Price Watch: Shares of SoundHound AI were trading 13.2% higher at $21.34 ahead of the close Friday. The stock is up 882% year-to-date. Read Next: Here's What The Latest Congressional AI Report Could Mean For Big Tech Photo: Shutterstock Market News and Data brought to you by Benzinga APIs

SoundHound AI Soars 700%: Short Squeeze Potential Has Traders Talking - SoundHound AI (NASDAQ:SOUN)

Strong technical indicators and retail buzz, driven by short interest, signal bullish momentum but caution is advised. SoundHound AI Inc SOUN stock skyrocketed 713% this year and 173% this month. The company, which specializes in voice AI technology, is trading at an all-time -- and 52-week high -- of $17.29 on Friday. Chart created using Benzinga Pro SOUN stock's technical signals are flashing green across the board. Trading well above its eight, 20 and 50-day simple moving averages, SoundHound is in strongly bullish territory. Key indicators like its relative strength index (RSI) of 80.89 may point to an overbought status, but they've done little to slow its momentum. Even the moving average convergence divergence (MACD) indicator at 2.55 screams Bullish. Read Also: What's Going On With SoundHound AI Stock? What's Fueling The Frenzy? SoundHound's rise from a low of $1.62 earlier this year underscores the wave of AI excitement. Nvidia Corp's NVDA multimillion-dollar investment earlier this year lent credibility to SoundHound's voice AI tech, while analysts now expect revenue to grow nearly 97% annually. The company's partnerships in automotive, fast food, and consumer electronics have further cemented its place as a niche leader. Is A Short Squeeze In The Cards? Adding fuel to the fire, 24.4% of the stock's float is shorted, positioning it perfectly for a short squeeze. Retail investors, particularly on social media platforms, have latched onto the potential for explosive gains, creating a feedback loop of buying pressure. With its cutting-edge voice AI tech and strong market fit, the stock might still have room to grow -- but overbought signals suggest investors should proceed with caution. Read Next: Taiwan Semiconductor CEO Highlights AI-Powered Drones, Next-Gen Robots As Growth Drivers Image: Shutterstock SOUNSoundHound AI Inc$17.644.32%WatchlistOverviewNVDANVIDIA Corp$134.380.10%Market News and Data brought to you by Benzinga APIs

Why SoundHound AI Stock Is Skyrocketing Today | The Motley Fool

The stock is gaining ground in conjunction with a conference call the company is participating in with Northland on Wednesday. The company's share price is likely also enjoying upward momentum thanks to recent bullish coverage from Wedbush. SoundHound Chief Financial Officer Nitesh Sharan is participating in a conference call hosted by Northland Wednesday afternoon, during which he'll be interviewed by analyst Mike Lattimore. Investors appeared to be excited by the prospect that Sharan could share some new details about the business and its growth pipeline. Sharan has participated in other conferences and calls recently, and these events have sometimes been followed by fresh rounds of bullish coverage from analysts and substantial gains for the company's share price. On Monday, Wedbush analyst Daniel Ives published new coverage on SoundHound stock. The analyst maintained an overweight rating on the stock, which is equivalent to a buy rating. Ives also sharply raised his one-year price target on the stock from $10 per share to $22 per share. The conversational AI software specialist's stock saw big gains following the note's publication, and subsequent coverage of the analysis appears to have pushed shares even higher. On the other hand, the stock is now trading above Ives' one-year target. As of this writing, that target actually implies a potential downside of roughly 8%. Regardless, Ives thinks that SoundHound has what it takes to be a long-term winner in the AI revolution. He believes that the company is just starting to capitalize on emerging growth opportunities and that the business will benefit from surging AI spending from enterprises. Ives expects that SoundHound AI's software will allow it to move into new business categories and improve its monetization. With Wednesday's gains, SoundHound AI stock is now up 983% across this year's trading. While the company could still be in the early stages of its long-term growth trajectory, it's now valued at roughly 106 times this year's expected sales. Due to its highly growth-dependent valuation, investors interested in building a position in the stock may want to consider a dollar-cost-averaging strategy rather than buying a large number of shares all at once.

What's Going On With SoundHound AI Stock? - SoundHound AI (NASDAQ:SOUN)

The stock may be experiencing a pullback due to profit-taking after a 47% surge over the past week. SoundHound AI Inc SOUN shares are trading lower by 12.9% to $18.16 during Thursday's session. The stock may be experiencing a pullback due to profit-taking after a 47% surge over the past week and a remarkable 213% gain over the past month, driven by key business updates. What To Know: SoundHound develops conversational AI using natural language processing (NLP) and large language models. Its solutions enhance customer experiences and operations in sectors like healthcare and quick-service restaurants. The company's Amelia Conversational AI Platform was recognized as a leader in Frost & Sullivan's 2024 Frost Radar for Healthcare AI. Analysts praised its innovative use of NLP for improving patient engagement and administrative processes. SoundHound says the company's acquisition of Amelia strengthens its position in a healthcare AI market projected to reach $2.34 billion by 2027. SoundHound also recently partnered with Church's Texas Chicken to implement voice AI in drive-thru operations, showcasing its expanding commercial applications. "Integrating our technology into Church's Texas Chicken restaurants marks a significant milestone in drive-thru innovation," said James Hom, Chief Product Officer at SoundHound AI. Read Also: SoundHound AI Soars Over 700%: Short Squeeze Potential Has Traders Talking How To Buy SOUN Stock By now you're likely curious about how to participate in the market for SoundHound AI - be it to purchase shares, or even attempt to bet against the company. Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. In the the case of SoundHound AI, which is trading at $20.7 as of publishing time, $100 would buy you 4.83 shares of stock. If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading - either way it allows you to profit off of the share price decline. According to data from Benzinga Pro, SOUN has a 52-week high of $24.08 and a 52-week low of $1.62. Market News and Data brought to you by Benzinga APIs

What's Going On With SoundHound AI Stock? - SoundHound AI (NASDAQ:SOUN)

SoundHound also recently partnered with Church's Texas Chicken to deploy voice AI technology. SoundHound AI Inc SOUN shares are trading higher by 4.1% to $17.63 Monday morning. The stock rose some 23.7% on Friday following several notable announcements from the company regarding conversational AI. What Happened: The company's Amelia Conversational AI Platform was named a leader in Frost & Sullivan's 2024 Frost Radar for Enterprise Conversational AI in Healthcare. The report highlighted SoundHound's innovative use of natural language processing and large language models to enhance healthcare operations, such as patient engagement and administrative workflows. Analysts praised the company's innovation pipeline and strategic focus, noting its recent acquisition of Amelia as a key driver for expanded opportunities in healthcare. The enterprise conversational AI market in healthcare is projected to reach $2.34 billion by 2027, growing at 17.2% annually. In addition, SoundHound partnered with Church's Texas Chicken to deploy voice AI technology for drive-thru orders, streamlining operations and reducing wait times. "Integrating our technology into Church's Texas Chicken restaurants marks a significant milestone in drive-thru innovation," said James Hom, Chief Product Officer at SoundHound AI. Read Also: U.S. Stocks To Open Higher Ahead Of Fed's Decision This Week: Analyst Says 'Santa Comes Later In December' How To Buy SOUN Stock By now you're likely curious about how to participate in the market for SoundHound AI - be it to purchase shares, or even attempt to bet against the company. Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. In the the case of SoundHound AI, which is trading at $16.91 as of publishing time, $100 would buy you 5.91 shares of stock. If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading - either way it allows you to profit off of the share price decline. According to data from Benzinga Pro, SOUN has a 52-week high of $17.29 and a 52-week low of $1.62. Market News and Data brought to you by Benzinga APIs

Why SoundHound AI Stock Is Plummeting Today | The Motley Fool

Despite being down big as of this writing, SoundHound AI stock actually started the day with big gains. The conversational artificial intelligence (AI) specialist's share price had been up as much as 14.1% earlier in the session. SoundHound AI stock rocketed higher at the start of today's trading. The company's valuation had been soaring this week thanks to bullish coverage from Wedbush analyst Daniel Ives and the participation of Chief Financial Officer Nitesh Sharan in a conference call hosted by Northland yesterday afternoon. But then investors got some bearish macroeconomic news. The Federal Reserve announced another 25-basis-point cut for the benchmark interest rate yesterday, but Chairman Jerome Powell gave some commentary that was more hawkish than investors had anticipated. For starters, Powell said that the decision to deliver the rate cut was not necessarily an easy one. While significant progress has been made on combating inflation, only two additional rate cuts are now expected in 2025 -- half of the four that investors had expected and hoped for. SoundHound AI still managed to close out yesterday's trading in the green, but the near-term trading outlook appears to have shifted. Yesterday's interest-rate news may have instigated a significant pivot in the market's approach to growth stocks. While many large-cap stocks are seeing some valuation rebounds today, smaller companies with speculative and highly growth-dependent valuations are broadly seeing some significant pullbacks. Considering the less favorable outlook on rate cuts for next year, investors are taking money out of some of these riskier trades. With the pivot, SoundHound AI may also be seeing an increase in short-selling. Even with today's pullback, the company's share price has risen 759% across 2024's trading -- and the software specialist is valued at roughly 80 times this year's expected sales. SoundHound AI's share price has soared recently, and some investors have been playing bets against the stock. This can have the effect of pushing the company's share price lower, particularly if investors are broadly betting that the recent run for speculative growth stocks may be coming to an end. Alternatively, it's possible that continued gains for the company's stock could open the door for a short-squeeze scenario. If the software-specialist's share price moves higher, short-sellers may be forced to buy back their shares in order to minimize their losses. This buying action can have the effect of pushing the stock even higher, which can trigger even more buying from short-sellers and other investors. With these dynamics in mind, SoundHound AI stock will likely continue to be very volatile in the near term. While the company could see a return to strong bullish investment, the stock remains high risk, even with today's pullback.

Nvidia-Backed SoundHound AI Stock Hits All-Time High

SoundHound AI (SOUN) shares jumped Monday after analysts at Wedbush raised their price target for the Nvidia (NVDA)-backed artificial intelligence (AI) voice technology company. The firm issued an "outperform" rating and raised its price target on the shares to $22 from $10. The revised target is more than twice the three other targets tracked by Visible Alpha that were issued since the start of November. Monday's rise brought the stock closer to that target price. Shares of SoundHound, which rallied more than 16% to close at a record high of $19.69, are up more than ninefold in 2024. SoundHound, which offers its AI voice solutions to the auto industry, restaurants, call centers, and other markets, is "seeing continued demand," Wedbush said, positioning it as a "long-term winner in the AI Revolution." Nvidia held more than 1.73 million shares of SoundHound as of Sep. 30, according to a regulatory filing.

Could SoundHound AI Become the Next Nvidia? | The Motley Fool

Over just a couple of years, Nvidia (NVDA 1.99%) has become one of the most profitable investments in recent memory. Even after the company surpassed a $1 trillion market cap, its valuation continued to double, and then nearly double again. Long term, who knows how high shares can soar? Of course, the rise of artificial intelligence (AI) is the major reason why Nvidia's stock price has done so well. As the market leader in AI GPUs, Nvidia has found itself in the right place at the right time. Long term, spending on AI infrastructure should balloon tremendously -- a future that will, in all likelihood, greatly benefit Nvidia. But where should you dedicate your time if you're looking for the next big AI stock? Look no further than SoundHound AI (SOUN -9.60%). While its share price has also soared this year, there's clearly significant upside if the company can execute on a few critical areas of growth. When it comes to dominating the AI space, being early has proven a great strategy. Nvidia spent huge sums on research and development to get its first AI GPUs to market. And while demand was limited at the start, this early competitiveness allowed it to aggregate users and data that not only created a community of developers building with its infrastructure components, but also helped inform its future line of new AI chips. Today, Nvidia has between 70% to 95% of the AI GPU market -- a highly profitable segment that is allowing it to pour billions of dollars into additional research and development efforts. Suffice it to say that being early provided Nvidia with a durable competitive advantage as industry demand began to take off. In many ways, SoundHound AI is in a similar position. As its name suggests, the company deals with the intersection of sound and AI. Its voice recognition and natural language processing software can be implemented in a variety of industries. Fast food companies are piloting SoundHound AI's technology at drive-thru windows to help control costs and improve throughput times. Auto manufacturers have put SoundHound AI's software into their vehicles, allowing drivers to chat with their cars about maintenance issues and road conditions. Customer support is another big use case, with several companies using SoundHound AI tech to help triage and handle customer needs over the phone and online chat. These customer relationships didn't appear out of nowhere. The company has been operating since 2005, accumulating more than 200 patents since its founding. In 2016, it launched its open developer platform, which proved to be an inflection point for sales. Over the past decade, dozens of companies have signed on as customers. As with Nvidia, these customers give SoundHound AI an edge when it comes to data and market validation. Real-world use cases allow the company's models to improve using reliable data, while new customers continue to prove to potential customers that SoundHound AI's tech stack is worth looking into. Unlike Nvidia, SoundHound AI is still losing money. And even after a huge increase in revenue, the company is still expecting to generate less than $190 million in sales next year, while its current research and development budget over the last 12 months totaled just $64 million. The company clearly has an early edge on market growth for its niche. But if any of the big tech players decide to compete directly, it's unlikely that SoundHound AI will have the financial firepower to keep up. Plus, there's always the issue of valuation. Right now, shares are priced at an outrageous 88 times sales. Few companies can justify a valuation this steep over time, though Nvidia is a notable exception. Can SoundHound AI replicate Nvidia's historic rise? The answer is likely no. The sound AI space is significantly smaller than the AI GPU market. And while I liked the stock in September when the company was valued at less than $2 billion, the company is a much less attractive investment now that the valuation has ballooned to more than $7 billion. I'd keep an eye on this AI play should shares experience a correction. But with inferior growth prospects versus Nvidia, not to mention a priced-for-perfection valuation, I'm leaving SoundHound AI's stock alone for now.

SoundHound AI's chief product officer sells $1.07 million in stock By Investing.com

James Ming Hom, Chief Product Officer at SoundHound AI , Inc. (NASDAQ:SOUN), recently sold a substantial portion of his holdings in the company. According to a recent SEC filing, Hom executed multiple transactions on December 16, 2024, selling a total of 56,382 shares of Class A Common Stock. The shares were sold at prices ranging from $17.11 to $19.76 per share, amounting to a total value of approximately $1.07 million. The timing of these sales is notable as the stock has shown remarkable momentum, with a 374% surge over the past six months and currently trading near $20.84. These transactions were conducted under a Rule 10b5-1 trading plan, which Hom adopted in August 2024. Following these sales, Hom retains direct ownership of 754,811 shares of Class A Common Stock. Additionally, he sold 200,000 shares of Class B Common Stock, which automatically converted into Class A shares upon sale, further diversifying his holdings. According to InvestingPro analysis, the stock's RSI indicates overbought territory, with 16 additional ProTips available for subscribers seeking deeper insights into insider trading patterns and valuation metrics. The sales reflect strategic financial planning by Hom, leveraging the company's current market valuation of $7.17 billion. With a high Price/Book multiple and significant revenue growth of 76% in the last twelve months, investors will be closely monitoring any further changes in insider holdings as they assess the potential implications for SoundHound AI's market performance. In other recent news, SoundHound AI's financial performance has been noteworthy, with a significant increase in revenue for the third quarter of 2024. The company reported revenue of $25.1 million, surpassing the forecasted $22.6 million. This growth is attributed to organic demand and contributions from recent mergers and acquisitions. Following these results, SoundHound AI revised its revenue projections upward for the fourth quarter of 2024 and the full year of 2025, with expected revenues ranging between $155.0 million and $175.0 million. Analysts have reacted positively to these developments. H.C. Wainwright upgraded its price target for SoundHound AI to $8.00, maintaining a Buy rating, while Wedbush raised the target from $10.00 to $22.00, affirming an Outperform rating. These adjustments reflect the company's strong performance and potential for growth in the AI market. In addition to financial growth, SoundHound AI has also made strides in its partnership with Apivia Courtage, a French wholesale broker. The collaboration has resulted in the deployment of SoundHound's Amelia AI Agents, which have successfully managed over 100,000 customer service calls, reducing Apivia Courtage's direct customer queries by nearly 20%. These are recent developments and investors should be aware of them. Note that while this article provides factual information, it does not offer a comprehensive view of the company.

SoundHound AI's COO Michael Zagorsek sells shares for $8.35 million By Investing.com

Michael Zagorsek, the Chief Operating Officer of SoundHound AI , Inc. (NASDAQ:SOUN), recently sold shares worth approximately $8.35 million. The transactions were executed on December 16 and December 18, 2024, with prices ranging from $17.629 to $22.50 per share. The sales come amid an extraordinary year for SOUN stock, which has surged over 800% year-to-date, according to InvestingPro data. On December 16, Zagorsek sold 138,906 shares at a weighted-average price of $17.629, while on December 18, he sold the same number of shares at a weighted-average price of $20.0037. A subsequent sale on the same day involved another 138,906 shares at $22.50 per share. The stock, currently trading near its 52-week high of $19.97, has shown significant volatility with a beta of 3.41. InvestingPro analysis indicates the stock is currently trading above its Fair Value. These sales were part of a pre-arranged trading plan under Rule 10b5-1, which Zagorsek adopted in March 2024. Following these transactions, Zagorsek continues to hold a significant number of shares in the company. For deeper insights into SOUN's valuation and 17 additional ProTips, visit InvestingPro. In other recent news, SoundHound AI has seen significant developments with a raised stock price target, robust revenue growth, and successful partnerships. The AI company's stock target was upgraded by Wedbush and H.C. Wainwright, reflecting a positive outlook on the firm's growth trajectory. SoundHound AI's revenue figures have also been impressive, with the third quarter of 2024 revenue reaching $25.1 million, exceeding the projected $22.6 million. This success has led to revised revenue projections for the fourth quarter of 2024 and the full year of 2025, expected to range between $155.0 million and $175.0 million. The company has also made strides in its partnership with Apivia Courtage, deploying Amelia AI Agents to manage over 100,000 customer service calls. This has resulted in a reduction of nearly 20% in direct customer queries for Apivia Courtage. These recent developments highlight SoundHound AI's strong position in the AI market, with its innovative solutions gaining traction across multiple sectors. Analysts from Wedbush and H.C. Wainwright have expressed confidence in SoundHound's long-term prospects, citing the company's advancements in voice AI and its potential for growth in the rapidly evolving AI market. However, despite these positive developments, investors are advised to carefully consider entry points due to the company's recent stock performance.