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SoundHound AI, Inc. (SOUN) Stock Sinks As Market Gains: What You Should Know
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SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $4.14, demonstrating a -1.43% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.14%.
Heading into today, shares of the company had lost 11.95% over the past month, lagging the Computer and Technology sector's gain of 8.61% and the S&P 500's gain of 4.34% in that time.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.09 per share. This would mark year-over-year growth of 10%. Meanwhile, the latest consensus estimate predicts the revenue to be $13.01 million, indicating a 48.69% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.33 per share and revenue of $71.01 million. These totals would mark changes of +13.16% and +54.8%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, SoundHound AI, Inc. holds 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 71, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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 Sinks As Market Gains: What You Should Know
SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $4.14, demonstrating a -1.43% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.07%. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.14%.
Heading into today, shares of the company had lost 11.95% over the past month, lagging the Computer and Technology sector's gain of 8.61% and the S&P 500's gain of 4.34% in that time.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.09 per share. This would mark year-over-year growth of 10%. Meanwhile, the latest consensus estimate predicts the revenue to be $13.01 million, indicating a 48.69% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.33 per share and revenue of $71.01 million. These totals would mark changes of +13.16% and +54.8%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, SoundHound AI, Inc. holds 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 71, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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.