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SoundHound AI, Inc. (SOUN) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $6.55, marking a -4.73% move from the previous day. This change lagged the S&P 500's 1.51% loss on the day. At the same time, the Dow lost 0.97%, and the tech-heavy Nasdaq lost 2.01%.
The stock of company has fallen by 12.2% in the past month, lagging the Computer and Technology sector's loss of 1.84% and the S&P 500's loss of 3.63%.
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 -$0.05, indicating a 16.67% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.71 million, up 46.61% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.09 per share and a revenue of $232.73 million, representing changes of +30.77% and +37.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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. Within the past 30 days, our consensus EPS projection has moved 7.69% lower. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SoundHound AI, Inc. (SOUN) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $6.55, marking a -4.73% move from the previous day. This change lagged the S&P 500's 1.51% loss on the day. At the same time, the Dow lost 0.97%, and the tech-heavy Nasdaq lost 2.01%.
The stock of company has fallen by 12.2% in the past month, lagging the Computer and Technology sector's loss of 1.84% and the S&P 500's loss of 3.63%.
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 -$0.05, indicating a 16.67% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $42.71 million, up 46.61% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.09 per share and a revenue of $232.73 million, representing changes of +30.77% and +37.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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. Within the past 30 days, our consensus EPS projection has moved 7.69% lower. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 73, putting it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.