Back to top

Image: Bigstock

SoundHound AI, Inc. (SOUN) Stock Declines While Market Improves: Some Information for Investors

Read MoreHide Full Article

The most recent trading session ended with SoundHound AI, Inc. (SOUN - Free Report) standing at $2.25, reflecting a -1.1% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.96%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 1.3%.

The company's stock has climbed by 25% in the past month, exceeding the Computer and Technology sector's gain of 6.92% and the S&P 500's gain of 3.69%.

Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.06, showcasing a 60% upward movement from the corresponding quarter of the prior year. 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.

Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.93% decrease. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #4 (Sell).

The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% of all 250+ industries.

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.

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