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SoundHound AI, Inc. (SOUN) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $5.18, marking a -1.71% move from the previous day. This change lagged the S&P 500's 1.11% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.24%.
The company's stock has dropped by 6.39% in the past month, falling short of the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 0.48%.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.09, marking a 25% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $10.12 million, up 50.86% from the year-ago period.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.30 per share and revenue of $69.75 million. These results would represent year-over-year changes of +21.05% and +52.04%, respectively.
Investors might also notice recent changes to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.31% fall in the Zacks Consensus EPS estimate. SoundHound AI, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 58, this industry ranks in the top 24% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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SoundHound AI, Inc. (SOUN) Stock Sinks As Market Gains: Here's Why
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $5.18, marking a -1.71% move from the previous day. This change lagged the S&P 500's 1.11% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.24%.
The company's stock has dropped by 6.39% in the past month, falling short of the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 0.48%.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.09, marking a 25% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $10.12 million, up 50.86% from the year-ago period.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.30 per share and revenue of $69.75 million. These results would represent year-over-year changes of +21.05% and +52.04%, respectively.
Investors might also notice recent changes to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 4.31% fall in the Zacks Consensus EPS estimate. SoundHound AI, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 58, this industry ranks in the top 24% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.