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SoundHound AI, Inc. (SOUN) Stock Moves -0.93%: What You Should Know

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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $2.13, marking a -0.93% move from the previous day. This change was narrower than the S&P 500's 1.22% loss on the day. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.

Prior to today's trading, shares of the company had lost 1.83% over the past month. This has lagged the Computer and Technology sector's gain of 2.03% and the S&P 500's gain of 0.54% in that time.

Wall Street will be looking for positivity from SoundHound AI, Inc. as it approaches its next earnings report date. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $12.29 million, up 9.86% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.38 per share and revenue of $45.79 million, which would represent changes of +47.95% and +47.11%, respectively, from the prior year.

Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.44% lower 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 group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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.


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