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SoundHound AI, Inc. (SOUN) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $4.63, marking a -1.07% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
Shares of the company witnessed a gain of 1.74% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 9.96% and the S&P 500's gain of 6.41%.
The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 11.11%. At the same time, our most recent consensus estimate is projecting a revenue of $23.68 million, reflecting a 78.47% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.36 per share and a revenue of $82.59 million, indicating changes of +5.26% and +80.05%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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SoundHound AI, Inc. (SOUN) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $4.63, marking a -1.07% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.71%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
Shares of the company witnessed a gain of 1.74% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 9.96% and the S&P 500's gain of 6.41%.
The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 11.11%. At the same time, our most recent consensus estimate is projecting a revenue of $23.68 million, reflecting a 78.47% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.36 per share and a revenue of $82.59 million, indicating changes of +5.26% and +80.05%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 industry, currently bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.