Lisa Cook sues Trump over firing attempt, emergency hearing set
Michael Zagorsek, Chief Operating Officer of SoundHound AI , Inc. (NASDAQ:SOUN), recently executed a sale of company stock, according to a filing with the Securities and Exchange Commission. On March 20, Zagorsek sold 52,001 shares of SoundHound AI’s Class A common stock at an average price of $9.9018 per share, totaling approximately $514,903. The transaction occurred as the stock trades near $10.3, following a remarkable 110% surge over the past six months. According to InvestingPro analysis, the company, now valued at $3.93 billion, has demonstrated strong revenue growth of nearly 85% in the last twelve months. This transaction was conducted to satisfy tax withholding obligations related to the vesting of restricted stock units granted to Zagorsek in previous years. Following the sale, Zagorsek retains ownership of 1,360,525 shares in the company. InvestingPro subscribers can access 12 additional key insights about SOUN, including detailed analysis of the company’s financial health and valuation metrics. Get access to the comprehensive Pro Research Report, part of InvestingPro’s coverage of 1,400+ US stocks.
In other recent news, SoundHound AI has reported a delay in filing its Form 10-K for the fiscal year ending December 31, 2024, due to complexities arising from its acquisitions of Synq3, Inc. and Amelia Holdings, Inc. The company has cited the need for additional time to prepare the financial statements and notes, with plans to file within the fifteen-day extension period allowed. Despite this delay, SoundHound AI released its financial results for the fourth quarter and full year of 2024, showing significant sales momentum across various industries, which has led to an upward revision of its 2025 revenue guidance. The company now expects revenue between $157.0 million and $177.0 million, an increase from the previous forecast.
In another development, SoundHound AI has deepened its partnership with NVIDIA (NASDAQ:NVDA) to enhance its voice AI solutions, integrating NVIDIA AI Enterprise software to improve performance and scalability. This collaboration is expected to benefit sectors like the automotive industry, with companies like Lucid Motors (NASDAQ:LCID) already experiencing improved response times and user interactions. Analysts have responded positively to these developments, with H.C. Wainwright maintaining a Buy rating and a $26 price target, citing the company’s robust financial position and organic growth potential.
Similarly, DA Davidson has raised its price target for SoundHound AI to $13.00, up from $9.50, while maintaining a Buy rating. The analyst highlighted SoundHound’s impressive revenue growth and successful expansion into sectors such as healthcare and energy. The acquisition of Amelia Holdings has been noted as a strategic move, enhancing the company’s market reach and total addressable market. These recent developments underscore SoundHound AI’s ongoing efforts to innovate and expand its presence in the AI industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.