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SoundHound AI, Inc. (SOUN) Dips More Than Broader Markets: What You Should Know
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SoundHound AI, Inc. (SOUN - Free Report) closed at $3.34 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's 0.37% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 1.18%.
Heading into today, shares of the company had gained 19.08% over the past month, outpacing the Computer and Technology sector's gain of 12.92% and the S&P 500's gain of 7.18% in that time.
SoundHound AI, Inc. will be looking to display strength as it nears its next earnings release. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.12 per share, which would represent year-over-year growth of 36.84%. Our most recent consensus estimate is calling for quarterly revenue of $7.89 million, up 28.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.39 per share and revenue of $46.06 million. These totals would mark changes of +46.58% and +47.96%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 23.81% lower. SoundHound AI, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Dips More Than Broader Markets: What You Should Know
SoundHound AI, Inc. (SOUN - Free Report) closed at $3.34 in the latest trading session, marking a -0.89% move from the prior day. This change lagged the S&P 500's 0.37% loss on the day. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 1.18%.
Heading into today, shares of the company had gained 19.08% over the past month, outpacing the Computer and Technology sector's gain of 12.92% and the S&P 500's gain of 7.18% in that time.
SoundHound AI, Inc. will be looking to display strength as it nears its next earnings release. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.12 per share, which would represent year-over-year growth of 36.84%. Our most recent consensus estimate is calling for quarterly revenue of $7.89 million, up 28.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.39 per share and revenue of $46.06 million. These totals would mark changes of +46.58% and +47.96%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 23.81% lower. SoundHound AI, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.