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SoundHound AI, Inc. (SOUN) Laps the Stock Market: Here's Why
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SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $8.81, demonstrating a +2.92% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.9%.
Prior to today's trading, shares of the company had lost 27.15% lagged the Computer and Technology sector's loss of 1.96% and the S&P 500's loss of 0.16%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.02 per share. This would mark year-over-year growth of 97.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $53.96 million, up 56.22% from the year-ago period.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.15 per share and revenue of $167.84 million. These results would represent year-over-year changes of +85.58% and +98.17%, respectively.
Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 remained unchanged. SoundHound AI, Inc. is currently a Zacks Rank #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 143, finds itself in the bottom 42% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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SoundHound AI, Inc. (SOUN) Laps the Stock Market: Here's Why
SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $8.81, demonstrating a +2.92% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.9%.
Prior to today's trading, shares of the company had lost 27.15% lagged the Computer and Technology sector's loss of 1.96% and the S&P 500's loss of 0.16%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.02 per share. This would mark year-over-year growth of 97.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $53.96 million, up 56.22% from the year-ago period.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.15 per share and revenue of $167.84 million. These results would represent year-over-year changes of +85.58% and +98.17%, respectively.
Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 remained unchanged. SoundHound AI, Inc. is currently a Zacks Rank #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 143, finds itself in the bottom 42% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.