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SoundHound AI, Inc. (SOUN) Gains But Lags Market: What You Should Know
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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $4.55, marking a +1.11% move from the previous day. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Coming into today, shares of the company had gained 53.06% in the past month. In that same time, the Computer and Technology sector gained 3.32%, while the S&P 500 gained 4.67%.
Wall Street will be looking for positivity from SoundHound AI, Inc. as it approaches its next earnings report date. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 36.84%. Meanwhile, our latest consensus estimate is calling for revenue of $7.89 million, up 28.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.39 per share and revenue of $46.06 million, which would represent changes of +46.58% and +47.96%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SoundHound AI, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. is currently a Zacks Rank #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SoundHound AI, Inc. (SOUN) Gains But Lags Market: What You Should Know
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $4.55, marking a +1.11% move from the previous day. This change lagged the S&P 500's 1.23% gain on the day. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq lost 2.24%.
Coming into today, shares of the company had gained 53.06% in the past month. In that same time, the Computer and Technology sector gained 3.32%, while the S&P 500 gained 4.67%.
Wall Street will be looking for positivity from SoundHound AI, Inc. as it approaches its next earnings report date. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 36.84%. Meanwhile, our latest consensus estimate is calling for revenue of $7.89 million, up 28.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.39 per share and revenue of $46.06 million, which would represent changes of +46.58% and +47.96%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SoundHound AI, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. is currently a Zacks Rank #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.