Yahoo Finance SoundHound AI, Inc. (SOUN) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with SoundHound AI, Inc. (SOUN) standing at $3.98, reflecting a +1.53% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.16% gain on the day. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq appreciated by 0.49%.
Prior to today's trading, shares of the company had lost 20.16% over the past month. This has lagged the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 3.22% in that time.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. 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. Meanwhile, our latest consensus estimate is calling for revenue of $13.01 million, up 48.69% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.33 per share and a revenue of $71.01 million, indicating changes of +13.16% and +54.8%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Right now, SoundHound AI, Inc. possesses a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 99, finds itself in the top 40% echelons 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.
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) : Free Stock Analysis Report
