Yahoo Finance SoundHound AI, Inc. (SOUN) Declines More Than Market: Some Information for Investors
SoundHound AI, Inc. (SOUN) closed the latest trading day at $4.05, indicating a -0.98% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.25%. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, lost 0.79%.
The the stock of company has fallen by 19.33% in the past month, lagging the Computer and Technology sector's gain of 8.85% and the S&P 500's gain of 3.59%.
The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.09, marking a 10% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $13.61 million, reflecting a 55.54% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.33 per share and revenue of $71.31 million. These totals would mark changes of +13.16% and +55.45%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 past month, the Zacks Consensus EPS estimate has remained steady. Currently, SoundHound AI, Inc. is carrying 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 155, putting it in the bottom 39% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SoundHound AI, Inc. (SOUN) : Free Stock Analysis Report
