What Happened With SoundHound Stock Today?

SoundHound AI, Inc. SOUN shares soared on Monday. The stock has been moving higher since the company reported third-quarter earnings.

What To Know: SoundHound posted third-quarter earnings on Nov. 9 after the close of the market. The company reported quarterly losses of nine cents per share, which met the analyst consensus estimate. Quarterly sales of $13.27 million exceeded expectations of $12.78 million.

The company issued a fourth-quarter outlook, with revenue expected to be between $16 million and $20 million versus the $17.56 million estimate.

Shares of the stock rose in response to the encouraging earnings figures, trading higher over the past several days. 

Additionally, on Nov. 10, Cantor Fitzgerald analyst Brett Knoblauch maintained SoundHound AI with an Overweight and lowered the price target from $4.2 to $3.6.

Related Link: SNDL Renews CA$100M Share Buyback Plan, Narrows Q3 Net Loss By 78% YoY

SOUN Price Action: Shares of SOUN closed 11.20% higher at $1.99 on Monday, according to Benzinga Pro.