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SoundHound AI, Inc. (SOUN) Suffers a Larger Drop Than the General Market: Key Insights
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The most recent trading session ended with SoundHound AI, Inc. (SOUN - Free Report) standing at $4.69, reflecting a -0.85% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.04%.
Shares of the company have appreciated by 5.35% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.41% and the S&P 500's gain of 1.25%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.08, marking a 11.11% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $23.68 million, indicating a 78.47% upward movement from the same quarter last year.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.36 per share and revenue of $82.59 million. These results would represent year-over-year changes of +5.26% and +80.05%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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. This industry, currently bearing a Zacks Industry Rank of 44, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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SoundHound AI, Inc. (SOUN) Suffers a Larger Drop Than the General Market: Key Insights
The most recent trading session ended with SoundHound AI, Inc. (SOUN - Free Report) standing at $4.69, reflecting a -0.85% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.44%, while the tech-heavy Nasdaq depreciated by 0.04%.
Shares of the company have appreciated by 5.35% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.41% and the S&P 500's gain of 1.25%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.08, marking a 11.11% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $23.68 million, indicating a 78.47% upward movement from the same quarter last year.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.36 per share and revenue of $82.59 million. These results would represent year-over-year changes of +5.26% and +80.05%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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. This industry, currently bearing a Zacks Industry Rank of 44, finds itself in the top 18% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.