We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SoundHound AI, Inc. (SOUN) Increases Despite Market Slip: Here's What You Need to Know
Read MoreHide Full Article
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $9.57, marking a +1.59% move from the previous day. This change outpaced the S&P 500's 0.22% loss on the day. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.51%.
The company's stock has dropped by 1.36% in the past month, falling short of the Computer and Technology sector's gain of 2.98% and the S&P 500's gain of 0.45%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.06, marking a 45.45% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $33.03 million, reflecting a 145.36% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.16 per share and a revenue of $161.82 million, indicating changes of +84.62% and +91.07%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, SoundHound AI, Inc. boasts a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
SoundHound AI, Inc. (SOUN) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $9.57, marking a +1.59% move from the previous day. This change outpaced the S&P 500's 0.22% loss on the day. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.51%.
The company's stock has dropped by 1.36% in the past month, falling short of the Computer and Technology sector's gain of 2.98% and the S&P 500's gain of 0.45%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.06, marking a 45.45% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $33.03 million, reflecting a 145.36% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.16 per share and a revenue of $161.82 million, indicating changes of +84.62% and +91.07%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, SoundHound AI, Inc. boasts a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 36% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.