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SoundHound AI, Inc. (SOUN) Rises Higher Than Market: Key Facts
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SoundHound AI, Inc. (SOUN - Free Report) closed at $16.08 in the latest trading session, marking a +2.55% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.41%. Meanwhile, the Dow experienced a rise of 0.18%, and the technology-dominated Nasdaq saw an increase of 0.31%.
Prior to today's trading, shares of the company had gained 20.43% outpaced the Computer and Technology sector's gain of 7.63% and the S&P 500's gain of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.04, indicating a 33.33% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $40.1 million, indicating a 59.83% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.13 per share and a revenue of $165.37 million, representing changes of +87.5% and +95.26%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.67% downward. 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. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 42% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SOUN in the coming trading sessions, be sure to utilize Zacks.com.
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SoundHound AI, Inc. (SOUN) Rises Higher Than Market: Key Facts
SoundHound AI, Inc. (SOUN - Free Report) closed at $16.08 in the latest trading session, marking a +2.55% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.41%. Meanwhile, the Dow experienced a rise of 0.18%, and the technology-dominated Nasdaq saw an increase of 0.31%.
Prior to today's trading, shares of the company had gained 20.43% outpaced the Computer and Technology sector's gain of 7.63% and the S&P 500's gain of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.04, indicating a 33.33% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $40.1 million, indicating a 59.83% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.13 per share and a revenue of $165.37 million, representing changes of +87.5% and +95.26%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.67% downward. 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. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 42% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SOUN in the coming trading sessions, be sure to utilize Zacks.com.