In Friday’s session, SoundHound AI Inc. (NASDAQ:SOUN) marked $1.42 per share, up from $1.25 in the previous session. While SoundHound AI Inc. has overperformed by 13.60%, investors are advised to look at stock chart patterns for technical insight.
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On November 30, 2022, Cantor Fitzgerald Upgraded SoundHound AI Inc. (NASDAQ: SOUN) to Overweight. A report published by Cantor Fitzgerald on July 01, 2022, Initiated its previous ‘Neutral’ rating for SOUN. Wedbush also rated SOUN shares as ‘Outperform’, setting a target price of $7 on the company’s shares in an initiating report dated June 28, 2022.
Analysis of SoundHound AI Inc. (SOUN)
Further, the quarter-over-quarter increase in sales is 180.00%, showing a positive trend in the upcoming months.
SoundHound AI Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 59.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, 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.
The average volume for any stock is also a very valuable indicator of volatility, and SOUN has an average volume of 916.04K. On a monthly basis, the volatility of the stock is set at 16.45%, whereas on a weekly basis, it is put at 19.79%, with a gain of 29.09% over the past seven days. Furthermore, long-term investors anticipate a median target price of $3.70, showing growth from the present price of $1.42, 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?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 3.10%. 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 11.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SOUN shares?
The recent increase in stakes in SOUN appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors made another decreased to its shares in SOUN during the first quarter, downing its stake by -0.51%. During the last quarter, the company picked up -8,897 additional shares for a total stake of worth $3.1 million, bringing number of shares owned by the company to 1,752,417.
SOUN shares are owned by institutional investors to the tune of 11.00% at present.
