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SoundHound AI, Inc. (SOUN) Stock Declines While Market Improves: Some Information for Investors
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SoundHound AI, Inc. (SOUN - Free Report) closed at $3.92 in the latest trading session, marking a -1.26% move from the prior day. This move lagged the S&P 500's daily gain of 0.04%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the company had gained 113.44% in the past month. In that same time, the Computer and Technology sector gained 4.78%, while the S&P 500 gained 5.01%.
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 February 29, 2024. The company's upcoming EPS is projected at -$0.05, signifying a 66.67% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $17.9 million, up 88.45% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.93% higher. 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 93, putting it in the top 37% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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SoundHound AI, Inc. (SOUN) Stock Declines While Market Improves: Some Information for Investors
SoundHound AI, Inc. (SOUN - Free Report) closed at $3.92 in the latest trading session, marking a -1.26% move from the prior day. This move lagged the S&P 500's daily gain of 0.04%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.28%.
Coming into today, shares of the company had gained 113.44% in the past month. In that same time, the Computer and Technology sector gained 4.78%, while the S&P 500 gained 5.01%.
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 February 29, 2024. The company's upcoming EPS is projected at -$0.05, signifying a 66.67% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $17.9 million, up 88.45% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.93% higher. 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 93, putting it in the top 37% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.