SOUN

Northland Capital Markets Downgrades SoundHound AI (SOUN)

Fintel reports that on February 28, 2024, Northland Capital Markets downgraded their outlook for SoundHound AI (NasdaqGM:SOUN) from Outperform to Market Perform .

Analyst Price Forecast Suggests 34.08% Downside

As of February 24, 2024, the average one-year price target for SoundHound AI is 4.52. The forecasts range from a low of 3.64 to a high of $5.25. The average price target represents a decrease of 34.08% from its latest reported closing price of 6.86.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for SoundHound AI is 158MM, an increase of 312.43%. The projected annual non-GAAP EPS is -0.31.

What are Other Shareholders Doing?

SOUN / SoundHound AI, Inc. Shares Held by Institutions

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,738K shares representing 2.24% ownership of the company. In it's prior filing, the firm reported owning 4,658K shares, representing an increase of 18.82%. The firm decreased its portfolio allocation in SOUN by 43.52% over the last quarter.

Intrinsic Edge Capital Management holds 4,848K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 3,282K shares, representing an increase of 32.31%. The firm increased its portfolio allocation in SOUN by 38.07% over the last quarter.

Geode Capital Management holds 3,705K shares representing 1.45% ownership of the company. In it's prior filing, the firm reported owning 3,494K shares, representing an increase of 5.69%. The firm decreased its portfolio allocation in SOUN by 1.77% over the last quarter.

VITAX - Vanguard Information Technology Index Fund Admiral Shares holds 3,502K shares representing 1.37% ownership of the company. In it's prior filing, the firm reported owning 3,150K shares, representing an increase of 10.03%. The firm decreased its portfolio allocation in SOUN by 8.93% over the last quarter.

IWM - iShares Russell 2000 ETF holds 3,268K shares representing 1.28% ownership of the company. In it's prior filing, the firm reported owning 3,226K shares, representing an increase of 1.29%. The firm decreased its portfolio allocation in SOUN by 53.18% over the last quarter.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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