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SoundHound AI, Inc. (SOUN) Stock Drops Despite Market Gains: Important Facts to Note
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SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $1.70, demonstrating a -0.58% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.07% for the day. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 1.74%.
Coming into today, shares of the company had lost 16.99% in the past month. In that same time, the Computer and Technology sector gained 4.83%, while the S&P 500 gained 2.93%.
The upcoming earnings release of SoundHound AI, Inc. will be of great interest to investors. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.06 per share. This would mark year-over-year growth of 60%. At the same time, our most recent consensus estimate is projecting a revenue of $17.9 million, reflecting an 88.45% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 18.48% downward. As of now, SoundHound AI, Inc. holds a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 73, this industry ranks in the top 29% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SOUN in the coming trading sessions, be sure to utilize Zacks.com.
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SoundHound AI, Inc. (SOUN) Stock Drops Despite Market Gains: Important Facts to Note
SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $1.70, demonstrating a -0.58% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.07% for the day. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 1.74%.
Coming into today, shares of the company had lost 16.99% in the past month. In that same time, the Computer and Technology sector gained 4.83%, while the S&P 500 gained 2.93%.
The upcoming earnings release of SoundHound AI, Inc. will be of great interest to investors. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.06 per share. This would mark year-over-year growth of 60%. At the same time, our most recent consensus estimate is projecting a revenue of $17.9 million, reflecting an 88.45% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 18.48% downward. As of now, SoundHound AI, Inc. holds a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 73, this industry ranks in the top 29% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SOUN in the coming trading sessions, be sure to utilize Zacks.com.