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SoundHound AI, Inc.

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SoundHound Stock Surges 9% on Demand for AI Tools SoundHound ( NASDAQ:SOUN ) AI shares surged over 14% in late trading on Thursday after the company surpassed analysts' first-quarter revenue estimates and raised its full-year sales outlook amid growing demand for artificial intelligence (AI) speech recognition software. The Silicon Valley-based tech company reported revenue of $11.6 million for the three-month period ending March 31, up 73% from the prior year's corresponding quarter and comfortably ahead of the $10.1 million expected by analysts. However, the company posted an net loss of $33 million, or 12 cents a share, wider than the 9 cents per share loss consensus view. Looking ahead, the company bumped up the lower end of its full-year revenue guidance and now expects the top line to range between $65 million to $77 million, up from its prior forecast of $63 million to $77 million. Wall Street had modeled annual net sales tallying $69.5 million. CEO Keyvan Mohajer said in the company's earnings statement that "Our first quarter sets the tone for 2024 as another year of strong growth for SoundHound ( NASDAQ:SOUN )." The company already has a number of partnerships across restaurants and automobile sectors for its voice AI assistant tools. Although SoundHound ( NASDAQ:SOUN ) has a market capitalization of just $1.52 billion, it appeared on investors' radar this year after a regulatory filing revealed that AI chipmaker Nvidia (NVDA) had taken a stake in the company, holding 1.73 million shares as of the end of 2023. Technical Outlook SoundHound ( NASDAQ:SOUN ) stock is up 9% in Friday's Market trading as of the time of writing with a Relative Strength Index (RSI) of 56 which is prime for further gains in the near term. The stock's daily price charts show a "Cup or U-shaped pattern" in the long term.
NASDAQ:SOUNLong
by DEXWireNews
Should you buy SoundHound before earnings?Is SoundHound (SOUN) a buy now? SoundHound is reporting Q1 results of the year 2024 on May 9, but is the stock worth it? Since it became public that NVIDIA has had holdings in the AI voice company SoundHound, the price of the stock rallied as high as $10.4. However, the price did not hold at that level although it was after the company's negative results in the fourth quarter of 2024. The stock has been moving along with the market, following the overall trend of the AI & Semiconductor industry which has been in underperformance following unfavorable news from ASML, ARM, INTC, SMCI, and AMD. Texas Instruments did well but the company would not influence the market. Currently, a number of analysts set a one-year price target for SOUN stock as $7.15 with a min estimate of $4.9 and a max estimate of $9.5. Currently, the price is below the lower band estimate, closing yesterday's session at $4.24. 4 Wall Street analysts strongly recommend buying SoundHound, while 2 suggest holding it. These analyst recommendations are important for most investors to make the next move. YTD, SoundHound received 4 maintenance, 1 downgrade, and most recently one upgrade on April 11. The current technicals surrounding SOUN indicate that the stock is oversold. In terms of the stock valuation, the software & programming industry has the following stats: - Price to Sales of 9.56, SoundHound comes at 25.62 - Price to Book of 10.01, SoundHound achieves 84.08 While the price to sales is a strong indication of how much sales investors expect their dollar investment to generate and it's quite favorable for SoundHound, the P/B ratio is paramount as well, which's very unfavorable in SOUN situation. Apart from valuation and technicals, SoundHound is predicted to report EPS of $-0.092 in the current quarter. This raises questions about the company's profitability, although this figure represents 28% decrease from last quarter's earnings. The audience will be watching if the company will be able to break even and perhaps turn profitable in the next few years. Nevertheless, a better-than-expected EPS figure will most likely boost investor's confidence in the stock as it will be a sign that the company is moving in the right direction. Another important metric will be the company's segmental revenue. SoundHound now has 4 revenue segments, with the licensing revenue represents the largest segment. Hosted Services and Professional Services are in the middle range, while Monetization comes last with a decrement of approximately 25% YoY. Eyes will be on this metric because it represents a vulnerability in the company's revenue. Overall, The stock may progress in the coming days as its next earnings date was announced May 9, which's a day after ARM reports its Q1 earnings with potential bulls in the general market. The graph below demonstrates SOUN, SP500, & Technology sector YTD. We can see the spike in SOUN in February & Mid-March when the stock jumped from $1.95 hitting $4.0.
NASDAQ:SOUNLong
by ali_haideredrees
SOUN Analysis: Support Zone Rebound Potential with RSI UptrendTicker: SOUN (SoundHound AI, Inc.) Current Price: $4.04 Analysis: Support Zone and Historical Context: SOUN is currently within a potential support zone, outlined by a purple rectangle from $3.75 to $4.35. This zone has been historically significant, previously acting as both support and resistance levels. Notably, a breakout from this zone led to a high of $10.25 before retracing back to $3.75, followed by the recent rebound to $4.04. Technical Indicators: - 200 SMA (Magenta Line): The price is nearing the 200-day Simple Moving Average on the 4hr chart, adding to the zone's importance. - RSI Trend (Grey Line): RSI stands at 36.46, showing an upward trend and indicating growing buying pressure. Analysis and Strategy: SOUN's rebound from the $3.75 level and the rising RSI suggest potential for a support zone rebound. Traders might consider watching for confirmation signals, especially near the 4hr 200 SMA, for possible bullish opportunities. A break above the upper boundary of the support zone, around $4.35, could signal a bullish continuation, targeting higher levels. Conclusion: SOUN's technical setup points to a support zone rebound potential, with RSI strength supporting the bullish outlook. Traders are advised to monitor price action, particularly around the support zone's upper boundary, for potential entry opportunities aligned with the ongoing uptrend in RSI.
NASDAQ:SOUNLong
by maybethatguy
3
SOUN Analysis: Emerging Bullish Signals at Key SupportTicker: SOUN (SoundHound AI, Inc.) Current Price: $4.39 Technical Analysis: - RSI Observation: The RSI (grey line on custom indicator) is currently at 32.79 on the 4-hour chart, approaching oversold territory. This aligns with the increase in the 1-hour RSI from 25.50 to 34.44, suggesting a building momentum for a potential reversal. Support and Resistance Zones: - Support Zone (Purple Rectangle): Currently being tested, this potential support zone ranges from $4.00 to $4.35. Previously, this range acted as a strong resistance area multiple times. While it has not yet been confirmed as a stable support level, its historical significance suggests a possible base for upward movement. Analysis and Strategy: Although there hasn't been a confirmed stabilization above the newly formed support zone, the combination of the RSI nearing oversold conditions and the price interacting with a historically significant level presents a bullish scenario. The declining ADX indicates a loss of downward momentum, further hinting at a possible weakening of the bearish trend. Traders should closely monitor this zone for signs of bullish reversal. Considering entering positions if we see signs of support solidification within this range, with potential upward moves possibly reaching new resistance levels or retracing past higher price points. Conclusion: While SOUN is yet to establish firm stability above the support zone, the technical indicators suggest a weakening bearish trend and potential for bullish reversal. Investors and traders should watch for positive changes in price action around the current levels to potentially capitalize on early signs of a trend reversal.
NASDAQ:SOUNLong
by maybethatguy
SOUN a small cap AI stock ready for a VWAP reversal LONGSOUN on the 15 minute chart as fallen again to the anchored mean VWAP. Each previous time this has occurred in the past month, price has bounced into the second or third upper VWAP band line for a bullish momentum move. The mean VWAP is where big players like to pick up and drop off shares. Liquidity is at the highest. Teh Relative Trend Indicator will show best entries where the trend is negative but the returns to the chop zone to climb out of it and go positive. This indicator can function with alerts and notifications. SOUN uses AI and voice control of it to make apps more user friendly and potent. A similiar stock is DuoLingo ( DUOL) which also adds language translation into the functionality. Those on a budget in their trading love the price. Those not on a budget make love the volatility and the quick profits it can bring if traded properly.
NASDAQ:SOUNLong
by AwesomeAvani
1
SOUN breaks above falling wedge LONGSOUN has been falling since March 21st and in the past week in a falling wedge pattern. It broke out above the wedge early in the 4/4 session and I opened my long trade position soon after in three separate pieces. I have set targets based on pivots or consolidation levels on the trend down including a standard Fibonacci retracement. The trend up will be slow perhaps due to the general technology market recovery of the correction made for the ambiguities of the rate cut. I am projecting a trade profit of 30-40 %.
NASDAQ:SOUNLong
by AwesomeAvani
15
SoundHound AI: A Rising Star in the AI IndustryNGM:SOUND is making a bounce on a major support level at $5. This is showing strength for the buyers and further upside to be made. Entering a swing position and targeting $15. Some more details on SOUNDHOUND AI: SoundHound AI's technologies have attracted the attention and investment of major players in the tech industry. For example, Nvidia disclosed that it held roughly $3.7 million in SoundHound AI stock at the end of last year's fourth quarter. This kind of investment and partnership with a leading AI company like Nvidia is a strong vote of confidence in SoundHound AI's future. Market Opportunity: The AI market is rapidly growing, with significant potential for companies like SoundHound AI that provide advanced voice recognition and conversational AI solutions. As the demand for AI-powered solutions continues to rise across various industries, SoundHound AI is well-positioned to capitalize on this trend and grow its market share. #LionsDenTrades
NASDAQ:SOUNLong
by EgideSimba
5
Protective Puts to Ride SpeculationOverview SoundHound AI ( NASDAQ:SOUN ) doesn't appear to be fundamentally sound, however, its technicals support a potential spike to around $15.50. While the rest of the market also appears to be nearing a peak, there may be a few more weeks of squeezing which is where SOUN may find a second, yet short-lived, wind. Fundamentals SoundHound AI has experienced significant negative income the last three years. There was an increase in cash flow which appears to be from the solicitation of its company's shares. The company has also downsized by 40% which it annotates in the 10-K Annual Report for 2023. Overall, my impression is that SoundHound is struggling to find its balance and is shrinking. I believe that the only reason it has surged as it much as it has is due to the market's overwhelming interest in artificial intelligence. Strategy Unfortunately it's not enough to be right about the health of a company especially when the rest of the market is chasing a high. Despite SOUN's lack of a healthy fundamentals, I would not be surprised to see a spike to the 1.618 Fibonacci level. This gives me the desire to utilize protective puts in case the market euphoria ends sooner than expected.
NASDAQ:SOUN
by Shepherd_Investor
SoundHound AI: Investing in the Future or Echoes of Regret?Much is being talked about these days regarding the new star in the stock market: SoundHound AI. Many channels are hyping this stock. However, those who entered late must be frustrated with significant losses. Now, the stock of SoundHound AI is recovering, and once again, many channels are beating the drum for a long entry. Is it a good opportunity now to buy the company's stock and profit from the AI boom? Not yet, we believe. While we do see potential for an increase in the stock of SoundHound AI, jumping in now would likely be premature. Instead, we recommend a pullback deeper into the fair value gap to optimize our risk-reward ratio (RRR). By setting our take profit near the all-time high, we achieve an RRR of around 3:1, rather than entering with an unfavorable ratio "in the middle of nowhere".
NASDAQ:SOUNLong
by Ochlokrat
🚀 SoundHound & NVIDIA's B200 Chip: Hold My Beer 🍻Buckle up, buttercup! Word on the street is SoundHound AI is about to drop some serious digits on us about their hands on the B200 AI chip, made with NVIDIA's magic dust. The Playbook: Morning Moves: Eyes on the prize at $7.01. If it rockets in the first 20min, I want to buy it. If not, might be a dud. Could nosedive to $6. Whale Watching: Big fish were nibbling in the $3's pre-NVIDIA bombshell. Insider Intel: Their director offloaded 100k at $7.12, still clutching 258k. Hmmm. Stats for Nerds: 195M shares floating around. 108M trading hands on the average lately. If they file an S-1 then pull the RIP cord Why This Is Hotter Than Your Morning Coffee: Brain Meets Brawn: SoundHound's been cooking up something with NVIDIA, and it ain't your grandma's AI chip. This thing's supposed to have more muscle than a gym bro in January. Tech Tsunami: If the rumors pan out, we're talking about a tech quake that'll ripple through industries like a meme on Twitter. Fasten your seatbelts; it's gonna be a wild ride. The Gist: Keep your eyes peeled. This ain't just another tech blip on your radar. It's the kind of news that gets our degenerate hearts racing and might just redefine the AI game. Later, nerds.
NASDAQ:SOUNLong
by direraven420
SoundHound AI $SOUN - Artificial Intelligence is on the rise!SoundHound AI - Everybody is talking about Artificial Intelligence (AI). The social media buzz is all about AI. The world is asking questions like: What are the possibilities? How far will AI go in its reach into day-to-day society? Meanwhile, AI stocks like NASDAQ:SOUN are becoming more and more popular. If SoundHound's stock price makes it to the $9.00 key zone, it will be 100% away from the all-time high. Can the media buzz propel SoundHound AI to new heights?
NASDAQ:SOUNLong
by PortfolioBuildersClub
1