Back to top

Image: Bigstock

SoundHound AI, Inc. (SOUN) Declines More Than Market: Some Information for Investors

Read MoreHide Full Article

SoundHound AI, Inc. (SOUN - Free Report) closed the latest trading day at $1.79, indicating a -1.65% change from the previous session's end. This move lagged the S&P 500's daily loss of 0.56%. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.59%.

Shares of the company have depreciated by 18.75% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.27% and the S&P 500's gain of 1.2%.

Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. The company is predicted to post an EPS of -$0.06, indicating a 60% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $17.9 million, showing an 88.45% escalation compared to the year-ago quarter.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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. Over the past month, there's been a 17.39% fall in the Zacks Consensus EPS estimate. At present, SoundHound AI, Inc. boasts a Zacks Rank of #4 (Sell).

The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


SoundHound AI, Inc. (SOUN) - free report >>

Published in