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SoundHound AI, Inc. (SOUN) Advances While Market Declines: Some Information for Investors
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SoundHound AI, Inc. (SOUN - Free Report) closed the latest trading day at $1.57, indicating a +0.64% change from the previous session's end. This change outpaced the S&P 500's 0.48% loss on the day. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the company have depreciated by 17.46% over the course of the past month, underperforming the Computer and Technology sector's loss of 3.16% and the S&P 500's loss of 2.65%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. The company is predicted to post an EPS of -$0.09, indicating a 40% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.29 million, up 9.86% from the year-ago period.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.38 per share and revenue of $45.79 million. These results would represent year-over-year changes of +47.95% and +47.11%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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. Currently, this industry holds a Zacks Industry Rank of 46, positioning it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SoundHound AI, Inc. (SOUN) Advances While Market Declines: Some Information for Investors
SoundHound AI, Inc. (SOUN - Free Report) closed the latest trading day at $1.57, indicating a +0.64% change from the previous session's end. This change outpaced the S&P 500's 0.48% loss on the day. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the company have depreciated by 17.46% over the course of the past month, underperforming the Computer and Technology sector's loss of 3.16% and the S&P 500's loss of 2.65%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on November 9, 2023. The company is predicted to post an EPS of -$0.09, indicating a 40% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.29 million, up 9.86% from the year-ago period.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.38 per share and revenue of $45.79 million. These results would represent year-over-year changes of +47.95% and +47.11%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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. Currently, this industry holds a Zacks Industry Rank of 46, positioning it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.