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Here's Why SoundHound AI, Inc. (SOUN) Fell More Than Broader Market
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SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $6.46, demonstrating a -1.45% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.14%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 0.57%.
Heading into today, shares of the company had gained 1.79% over the past month, outpacing the Computer and Technology sector's loss of 4.82% and the S&P 500's gain of 0.25%.
The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.05, signifying a 66.67% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $52.49 million, indicating a 22.99% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $233.16 million, which would represent changes of -38.46% and +38.03%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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. At present, this industry carries a Zacks Industry Rank of 64, placing it within the top 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SOUN in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Here's Why SoundHound AI, Inc. (SOUN) Fell More Than Broader Market
SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $6.46, demonstrating a -1.45% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.14%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 0.57%.
Heading into today, shares of the company had gained 1.79% over the past month, outpacing the Computer and Technology sector's loss of 4.82% and the S&P 500's gain of 0.25%.
The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.05, signifying a 66.67% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $52.49 million, indicating a 22.99% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $233.16 million, which would represent changes of -38.46% and +38.03%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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. At present, this industry carries a Zacks Industry Rank of 64, placing it within the top 27% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SOUN in the coming trading sessions, be sure to utilize Zacks.com.