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SoundHound AI, Inc. (SOUN) Stock Moves -0.86%: What You Should Know
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The latest trading session saw SoundHound AI, Inc. (SOUN - Free Report) ending at $4.62, denoting a -0.86% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 1.84%. Meanwhile, the Dow lost 1.51%, and the Nasdaq, a tech-heavy index, lost 2.43%.
Coming into today, shares of the company had gained 18.58% in the past month. In that same time, the Computer and Technology sector lost 5.83%, while the S&P 500 lost 0.43%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. The company plans to announce its earnings on August 8, 2024. The company is expected to report EPS of -$0.09, up 10% from the prior-year quarter. 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.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.30 per share and revenue of $71.01 million, which would represent changes of +21.05% and +54.8%, respectively, from the prior year.
Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. Recent revisions tend to reflect the latest 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 moved 9.09% higher. SoundHound AI, Inc. is currently a Zacks Rank #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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SoundHound AI, Inc. (SOUN) Stock Moves -0.86%: What You Should Know
The latest trading session saw SoundHound AI, Inc. (SOUN - Free Report) ending at $4.62, denoting a -0.86% adjustment from its last day's close. This move was narrower than the S&P 500's daily loss of 1.84%. Meanwhile, the Dow lost 1.51%, and the Nasdaq, a tech-heavy index, lost 2.43%.
Coming into today, shares of the company had gained 18.58% in the past month. In that same time, the Computer and Technology sector lost 5.83%, while the S&P 500 lost 0.43%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. The company plans to announce its earnings on August 8, 2024. The company is expected to report EPS of -$0.09, up 10% from the prior-year quarter. 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.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.30 per share and revenue of $71.01 million, which would represent changes of +21.05% and +54.8%, respectively, from the prior year.
Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. Recent revisions tend to reflect the latest 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 moved 9.09% higher. SoundHound AI, Inc. is currently a Zacks Rank #2 (Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.