Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate SoundHound AI Inc before investing.

In this article, we go over a few key elements for understanding SoundHound AI Inc’s stock price such as:

• SoundHound AI Inc’s current stock price and volume
• Why SoundHound AI Inc’s stock price changed recently
• Upgrades and downgrades for SOUN from analysts
• SOUN’s stock price momentum as measured by its relative strength

About SoundHound AI Inc (SOUN)

Before we jump into SoundHound AI Inc’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

SoundHound AI, Inc. is engaged in conversational intelligence and offers voice artificial intelligence (AI) solutions that let businesses offer conversational experiences to their customers. The Company’s technology applications enable humans to interact with the surrounding things in the same way they interact with each other: by speaking naturally to mobile phones, cars, televisions, music speakers, coffee machines, and other parts of the world. Its voice AI delivers speed and accuracy in numerous languages to product creators across automotive, TV, and IoT, and to customer service industries via AI-driven products, such as Smart Answering, Smart Ordering, and Dynamic Interaction, a real-time, multimodal customer service interface. Along with SoundHound Chat AI, a voice assistant with integrated Generative AI, it powers various products and services, and processes interactions each year for businesses. It also provides edge, cloud and hybrid (Edge+Cloud) connectivity solutions.

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SoundHound AI Inc’s Stock Price as of Market Close

As of August 22, 2024, 4:00 PM, CST, SoundHound AI Inc’s stock price was $4.93.

SoundHound AI Inc is down 8.02% from its previous closing price of $5.36.

During the last market session, SoundHound AI Inc’s stock traded between $5.06 and $5.50. Currently, there are 331.83 million shares of SoundHound AI Inc stock available for purchase.

Unfortunately, SoundHound AI Inc’s P/E ratio is not significant enough to use for stock price evaluation. We recommend investors evaluate other financial metrics to understand its overall valuation.

SoundHound AI Inc Stock Price History

SoundHound AI Inc’s (SOUN) price is currently down 3.14% so far this month.

During the month of August, SoundHound AI Inc’s stock price has reached a high of $5.52 and a low of $3.94.

Over the last year, SoundHound AI Inc has hit prices as high as $10.25 and as low as $1.49. Year to date, SoundHound AI Inc’s stock is up 178.53%.

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What Caused SoundHound AI Inc Stock’s Price to Dip?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of August 21, 2024, there were 4 analysts who downgraded SoundHound AI Inc’s stock and 1 analyst who upgraded over the last month.

Additionally, you'll want to evaluate SoundHound AI Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on SoundHound AI Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

SoundHound AI Inc’s current valuation based on AAII’s Value Grade is a F, which means it is considered to be Ultra Expensive.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about SoundHound AI Inc (SOUN) by visiting AAII Stock Evaluator.

Relative Price Strength of SoundHound AI Inc

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of August 21, 2024, SoundHound AI Inc has a weighted four-quarter relative price strength of 14.55%, which translates to a Momentum Score of 92 and is considered to be Very Strong.

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SoundHound AI Inc Stock Price: Bottom Line

As of August 22, 2024, SoundHound AI Inc’s stock price is $4.93, which is down 8.02% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like SoundHound AI Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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