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SoundHound AI, Inc. (SOUN) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $2.34, marking a -1.68% move from the previous day. This change lagged the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Coming into today, shares of the company had lost 15.3% in the past month. In that same time, the Computer and Technology sector lost 1.16%, while the S&P 500 gained 0.39%.
Investors will be hoping for strength from SoundHound AI, Inc. as it approaches its next earnings release, which is expected to be May 11, 2023. The company is expected to report EPS of -$0.10, up 95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.24 million, up 68.76% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.28 per share and revenue of $45.89 million. These totals would mark changes of +61.64% and +47.43%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for SoundHound AI, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SoundHound AI, Inc. (SOUN) Dips More Than Broader Markets: What You Should Know
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $2.34, marking a -1.68% move from the previous day. This change lagged the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Coming into today, shares of the company had lost 15.3% in the past month. In that same time, the Computer and Technology sector lost 1.16%, while the S&P 500 gained 0.39%.
Investors will be hoping for strength from SoundHound AI, Inc. as it approaches its next earnings release, which is expected to be May 11, 2023. The company is expected to report EPS of -$0.10, up 95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.24 million, up 68.76% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.28 per share and revenue of $45.89 million. These totals would mark changes of +61.64% and +47.43%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for SoundHound AI, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. SoundHound AI, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.