While SoundHound AI Inc has overperformed by 23.70%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SOUN rose by 672.15%, with highs and lows ranging from $16.07 to $1.62, whereas the simple moving average jumped by 202.27% in the last 200 days.
On November 13, 2024, Ladenburg Thalmann Downgraded SoundHound AI Inc (NASDAQ: SOUN) to Neutral. A report published by Cantor Fitzgerald on August 09, 2024, Upgraded its rating to ‘Overweight’ for SOUN. Cantor Fitzgerald also Upgraded SOUN shares as ‘Neutral’, setting a target price of $4.90 on the company’s shares in a report dated April 11, 2024. Northland Capital February 28, 2024d its ‘Outperform’ rating to ‘Market Perform’ for SOUN, as published in its report on February 28, 2024. Ladenburg Thalmann’s report from January 30, 2024 suggests a price prediction of $4 for SOUN shares, giving the stock a ‘Buy’ rating. DA Davidson also rated the stock as ‘Buy’.
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Analysis of SoundHound AI Inc (SOUN)
Further, the quarter-over-quarter increase in sales is 89.13%, showing a positive trend in the upcoming months.
To gain a thorough understanding of SoundHound AI Inc’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -68.39% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.58, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and SOUN is recording an average volume of 40.30M. On a monthly basis, the volatility of the stock is set at 14.04%, whereas on a weekly basis, it is put at 16.64%, with a gain of 12.66% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.07, showing decline from the present price of $16.91, which can serve as yet another indication of whether SOUN is worth investing in or should be passed over.
How Do You Analyze SoundHound AI Inc Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 12.26%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 26.04% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
SOUN shares are owned by institutional investors to the tune of 26.04% at present.
