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SoundHound AI, Inc. (SOUN) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $4.93, marking a -1.4% move from the previous day. This change lagged the S&P 500's daily loss of 0.71%. Meanwhile, the Dow experienced a drop of 0.93%, and the technology-dominated Nasdaq saw a decrease of 0.81%.
The company's stock has climbed by 23.46% in the past month, exceeding the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.09, signifying a 10% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $13.01 million, showing a 48.69% escalation compared to the year-ago quarter.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for SoundHound AI, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, the Zacks Consensus EPS estimate has remained steady. SoundHound AI, Inc. presently features a Zacks Rank of #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 141, finds itself in the bottom 45% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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SoundHound AI, Inc. (SOUN) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $4.93, marking a -1.4% move from the previous day. This change lagged the S&P 500's daily loss of 0.71%. Meanwhile, the Dow experienced a drop of 0.93%, and the technology-dominated Nasdaq saw a decrease of 0.81%.
The company's stock has climbed by 23.46% in the past month, exceeding the Computer and Technology sector's loss of 3.88% and the S&P 500's gain of 1.08%.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.09, signifying a 10% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $13.01 million, showing a 48.69% escalation compared to the year-ago quarter.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for SoundHound AI, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, the Zacks Consensus EPS estimate has remained steady. SoundHound AI, Inc. presently features a Zacks Rank of #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 141, finds itself in the bottom 45% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.