SoundHound AI, Inc. (SOUN Quick QuoteSOUN - Free Report) closed at $6.91 in the latest trading session, marking a -1.29% move from the prior day. This change lagged the S&P 500's daily gain of 0.5%. On the other hand, the Dow registered a gain of 0.7%, and the technology-centric Nasdaq increased by 0.31%.

The company's stock has dropped by 17.84% in the past month, falling short of the Computer and Technology sector's loss of 0.42% and the S&P 500's loss of 0.23%.

The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.05 per share. This would mark a year-over-year decline of 66.67%. At the same time, our most recent consensus estimate is projecting a revenue of $52.61 million, reflecting a 23.27% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of -$0.18 per share and a revenue of $233.14 million, demonstrating changes of -38.46% and +38.02%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has shifted 18.3% downward. SoundHound AI, Inc. is holding a Zacks Rank of #4 (Sell) right now.

The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 172, finds itself in the bottom 30% 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.