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SoundHound AI, Inc. (SOUN) Stock Sinks As Market Gains: Here's Why
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SoundHound AI, Inc. (SOUN - Free Report) closed at $2.01 in the latest trading session, marking a -0.5% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
Prior to today's trading, shares of the company had lost 13.68% over the past month. This has lagged the Computer and Technology sector's loss of 5.27% and the S&P 500's loss of 5.17% in that time.
The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.09, showcasing a 40% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $12.29 million, indicating a 9.86% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.38 per share and a revenue of $45.79 million, indicating changes of +47.95% and +47.11%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. SoundHound AI, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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SoundHound AI, Inc. (SOUN) Stock Sinks As Market Gains: Here's Why
SoundHound AI, Inc. (SOUN - Free Report) closed at $2.01 in the latest trading session, marking a -0.5% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.18%. At the same time, the Dow added 0.87%, and the tech-heavy Nasdaq gained 1.6%.
Prior to today's trading, shares of the company had lost 13.68% over the past month. This has lagged the Computer and Technology sector's loss of 5.27% and the S&P 500's loss of 5.17% in that time.
The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.09, showcasing a 40% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $12.29 million, indicating a 9.86% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.38 per share and a revenue of $45.79 million, indicating changes of +47.95% and +47.11%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. SoundHound AI, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 31% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.