SoundHound Stock Has Risen Over The Past Three Months: What's Going On?

SoundHound AI, Inc. SOUN shares are up 7% on Monday, adding to strong gains over the past three months. As the second quarter comes to a close, here’s a look at key highlights from the period.

What Happened: SoundHound shares are on pace to close out the second quarter up approximately 30%. Recent analyst coverage suggest the stock may have more room to run.

Piper Sandler initiated coverage in late May with a price target of $12 and Wedbush and HC Wainwright maintained Outperform and Buy ratings last month with price targets of $15 and $18, respectively.

SoundHound has a strong momentum score of 90.62, according to Benzinga Pro. For more trend information sign up for Pro or check out Benzinga’s rankings tools on SoundHound AI Stock Price, Quotes and Forecasts.

SoundHound reported first-quarter results last month, showing 151% growth despite narrowly missing revenue estimates.

The company guided for full-year revenue of $157 million to $177 million, versus analyst estimates of $166.17 million.

“SoundHound continues to extend its reach and create new possibilities for real world AI applications. The release of our complete AI agent platform delivers full, voice-enabled Agentic AI for customers across all industries,” the company said in its first-quarter earnings release.

SoundHound is due to report second-quarter results in early August, although a date has not yet been set by the company. Analysts expect a loss of 9 cents per share on quarterly revenue of $32.88 million. The company had consistently beat estimates for several quarters before missing revenue expectations in its most recent report.

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SOUN Price Action: At the time of writing, SoundHound stock is trading 8.85% higher at $10.70, according to data from Benzinga Pro.

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