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SoundHound AI, Inc. (SOUN) Falls More Steeply Than Broader Market: What Investors Need to Know
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SoundHound AI, Inc. (SOUN - Free Report) closed the latest trading day at $1.78, indicating a -0.56% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the company had lost 16.74% over the past month. This has lagged the Computer and Technology sector's loss of 0.1% and the S&P 500's loss of 2.4% in that time.
The upcoming earnings release of SoundHound AI, Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.09, showcasing a 40% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $12.29 million, indicating a 9.86% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.38 per share and a revenue of $45.79 million, indicating changes of +47.95% and +47.11%, respectively, from the former year.
Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. currently has a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Falls More Steeply Than Broader Market: What Investors Need to Know
SoundHound AI, Inc. (SOUN - Free Report) closed the latest trading day at $1.78, indicating a -0.56% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the company had lost 16.74% over the past month. This has lagged the Computer and Technology sector's loss of 0.1% and the S&P 500's loss of 2.4% in that time.
The upcoming earnings release of SoundHound AI, Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.09, showcasing a 40% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $12.29 million, indicating a 9.86% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.38 per share and a revenue of $45.79 million, indicating changes of +47.95% and +47.11%, respectively, from the former year.
Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. currently has a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.