Forecasting The Future: 7 Analyst Projections For SoundHound AI
SoundHound AI (NASDAQ: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.