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SoundHound AI, Inc. (SOUN) Declines More Than Market: Some Information for Investors
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SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $7.85, demonstrating a -5.65% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.64%. Elsewhere, the Dow saw a downswing of 0.59%, while the tech-heavy Nasdaq depreciated by 0.59%.
Shares of the company witnessed a gain of 20.75% over the previous month, beating the performance of the Computer and Technology sector with its gain of 13.17%, and the S&P 500's gain of 9.33%.
The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.05, showcasing a 16.67% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $42.71 million, up 46.61% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.09 per share and revenue of $232.73 million. These totals would mark changes of +30.77% and +37.77%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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SoundHound AI, Inc. (SOUN) Declines More Than Market: Some Information for Investors
SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $7.85, demonstrating a -5.65% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.64%. Elsewhere, the Dow saw a downswing of 0.59%, while the tech-heavy Nasdaq depreciated by 0.59%.
Shares of the company witnessed a gain of 20.75% over the previous month, beating the performance of the Computer and Technology sector with its gain of 13.17%, and the S&P 500's gain of 9.33%.
The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.05, showcasing a 16.67% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $42.71 million, up 46.61% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.09 per share and revenue of $232.73 million. These totals would mark changes of +30.77% and +37.77%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 80, finds itself in the top 33% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.