Cantor Fitzgerald has recently raised SoundHound AI Inc (SOUN) stock to Overweight rating, as announced on August 9, 2024, according to Finviz. Earlier, on April 11, 2024, Cantor Fitzgerald had raised the stock from a Underweight to Neutral, setting a price target of $4.90. Cantor Fitzgerald also reduced Underweight rating. Additionally, Northland Capital reduced Market Perform rating on February 28, 2024. Ladenburg Thalmann analysts, in their report published on January 30, 2024, also initiated Buy rating and set a price target of $4 for SoundHound AI Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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SoundHound AI Inc (SOUN) Stock Trading Recap
On Monday, SoundHound AI Inc (SOUN) stock saw a decline, ending the day at $4.76 which represents a decrease of $-0.09 or -1.86% from the prior close of $4.85. The stock opened at $4.78 and touched a low of $4.72 during the day, reaching a high of $4.84. The volume of shares traded was 8.38 million falling short of the average volume of 23.48 million.
SOUN Stock Performance and Moving Averages
In recent trading, SoundHound AI Inc (SOUN) stock price has shown some volatility, fluctuating 3.03% over the last five trades and -3.84% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -46.58%, and it has gained 7.45% in the previous three months. Currently, SOUN is trading at -1.42%, -2.57%, and 13.42% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, SOUN, a Technology sector stock, is trading -53.56% below its 52-week high but remains 219.46% above its 52-week low. The Average True Range (ATR) (14 days) of 0.28 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
SoundHound AI Inc’s Profitability and Valuation Ratios
SoundHound AI Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -131.33% and a profit margin of -198.59%, with a gross margin of -46.58%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, SoundHound AI Inc’s market capitalization stands at $1.71 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 30.78, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 7.39, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 12.82% of SoundHound AI Inc (SOUN)’s shares, while financial institutions hold 24.65%.
Notable insider trades include MARCUS LAWRENCE, Director at SoundHound AI Inc (SOUN), who sold 50000 shares on Aug 20 ’24, at $5.02 each, totaling $0.25 million. On Jul 11 ’24, STONEHOCKER TIMOTHY, Chief Technology Officer, sold 208000 shares for $5.75 each, amounting to $1.20 million. Additionally, on Jun 24 ’24, MOHAJER KEYVAN sold 116504 shares at $3.95 each, generating $0.46 million.
