Tue Dec 10 14:50:00 UTC 2024: **SoundHound AI Stock Soars 12.6% on Increased Trading Volume**

**Sioux Falls, SD – December 18, 2024** – SoundHound AI, Inc. (NASDAQ: SOUN) experienced a significant surge in its stock price on Monday, closing at $15.01, a 12.6% increase from the previous day’s close. Trading volume reached 218,916,405 shares, a 214% jump from the average session volume.

The price increase follows mixed analyst ratings. While DA Davidson and HC Wainwright reiterated buy ratings, with price targets of $9.50 and $8.00 respectively, Wedbush maintained an outperform rating with a $9.00 target. Conversely, Barclays and LADENBURG THALM/SH SH issued neutral ratings, setting price objectives at $7.00. MarketBeat currently gives SoundHound AI a “Moderate Buy” consensus rating with a $7.64 price target.

SoundHound AI recently reported Q[Quarter] earnings, exceeding analyst expectations with an EPS of ($0.06) compared to the estimated ($0.07). Revenue reached $25.10 million, surpassing projections of $23.02 million and marking an 88.7% year-over-year increase. However, the company continues to operate with negative net margins and return on equity.

Insider trading activity also saw significant sales. Director Eric R. Ball sold 50,000 shares, reducing his holdings by 9.97%, while insider James Ming Hom sold 53,891 shares, a 6.22% decrease in his position. In total, insiders sold 535,233 shares over the last 90 days.

Institutional investors have also adjusted their holdings, with several firms, including Kings Path Partners LLC, International Assets Investment Management LLC, NBC Securities Inc., Amalgamated Bank, and Signaturefd LLC, making purchases or increasing their stakes in SoundHound AI.

SoundHound AI develops voice AI solutions for various industries, including automotive, television, IoT, and customer service. Its key products include the Houndify platform, SoundHound Chat AI, and SoundHound Smart Answering. The company has a market cap of $5.55 billion, a PE ratio of -41.69, and a beta of 3.03.

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