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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) closed the most recent trading day at $5.52, moving -1.95% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.47%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 1.25%.
Shares of the company witnessed a loss of 13.12% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.08%, and the S&P 500's gain of 1.15%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 133.33%. At the same time, our most recent consensus estimate is projecting a revenue of $62.13 million, reflecting a 47.74% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.19 per share and a revenue of $239.18 million, demonstrating changes of -46.15% and +41.59%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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SoundHound AI, Inc. (SOUN) Declines More Than Market: Some Information for Investors
SoundHound AI, Inc. (SOUN - Free Report) closed the most recent trading day at $5.52, moving -1.95% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.47%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 1.25%.
Shares of the company witnessed a loss of 13.12% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.08%, and the S&P 500's gain of 1.15%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.07 per share, which would represent a year-over-year decline of 133.33%. At the same time, our most recent consensus estimate is projecting a revenue of $62.13 million, reflecting a 47.74% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.19 per share and a revenue of $239.18 million, demonstrating changes of -46.15% and +41.59%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 75, placing it within the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.