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SoundHound AI, Inc. (SOUN) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, SoundHound AI, Inc. (SOUN - Free Report) was down 2.26% at $6.49. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 1.55%.
Shares of the company have depreciated by 3.77% over the course of the past month, underperforming the Computer and Technology sector's gain of 3.44%, and the S&P 500's gain of 4.28%.
The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 66.67%. Simultaneously, our latest consensus estimate expects the revenue to be $52.49 million, showing a 22.99% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.18 per share and revenue of $233.16 million, indicating changes of -38.46% and +38.03%, respectively, compared to the previous 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
View the Zacks #1 Rank List
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SoundHound AI, Inc. (SOUN) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, SoundHound AI, Inc. (SOUN - Free Report) was down 2.26% at $6.49. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 1.55%.
Shares of the company have depreciated by 3.77% over the course of the past month, underperforming the Computer and Technology sector's gain of 3.44%, and the S&P 500's gain of 4.28%.
The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.05 per share, which would represent a year-over-year decline of 66.67%. Simultaneously, our latest consensus estimate expects the revenue to be $52.49 million, showing a 22.99% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.18 per share and revenue of $233.16 million, indicating changes of -38.46% and +38.03%, respectively, compared to the previous 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.