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SoundHound AI, Inc. (SOUN) Surpasses Market Returns: Some Facts Worth Knowing
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SoundHound AI, Inc. (SOUN - Free Report) closed at $4.72 in the latest trading session, marking a +1.4% move from the prior day. This change outpaced the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 1.02%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Coming into today, shares of the company had lost 24.64% in the past month. In that same time, the Computer and Technology sector lost 2.28%, while the S&P 500 gained 0.67%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.07 per share. This would mark a year-over-year decline of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $63.02 million, up 49.86% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.19 per share and a revenue of $241.12 million, indicating changes of -46.15% and +42.74%, respectively, from the former year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 36% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
View the Zacks #1 Rank List
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SoundHound AI, Inc. (SOUN) Surpasses Market Returns: Some Facts Worth Knowing
SoundHound AI, Inc. (SOUN - Free Report) closed at $4.72 in the latest trading session, marking a +1.4% move from the prior day. This change outpaced the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 1.02%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Coming into today, shares of the company had lost 24.64% in the past month. In that same time, the Computer and Technology sector lost 2.28%, while the S&P 500 gained 0.67%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.07 per share. This would mark a year-over-year decline of 133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $63.02 million, up 49.86% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.19 per share and a revenue of $241.12 million, indicating changes of -46.15% and +42.74%, respectively, from the former year.
Investors might also notice 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. 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. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 36% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.