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Here's Why SoundHound AI, Inc. (SOUN) Fell More Than Broader Market
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SoundHound AI, Inc. (SOUN - Free Report) closed the most recent trading day at $4.97, moving -0.8% from the previous trading session. This change lagged the S&P 500's 0.19% loss on the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
The company's shares have seen an increase of 1.62% over the last month, surpassing the Computer and Technology sector's loss of 0.09% and falling behind the S&P 500's gain of 2.06%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 11.11%. Alongside, our most recent consensus estimate is anticipating revenue of $23.68 million, indicating a 78.47% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.36 per share and a revenue of $82.59 million, demonstrating changes of +5.26% and +80.05%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. 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. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why SoundHound AI, Inc. (SOUN) Fell More Than Broader Market
SoundHound AI, Inc. (SOUN - Free Report) closed the most recent trading day at $4.97, moving -0.8% from the previous trading session. This change lagged the S&P 500's 0.19% loss on the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
The company's shares have seen an increase of 1.62% over the last month, surpassing the Computer and Technology sector's loss of 0.09% and falling behind the S&P 500's gain of 2.06%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 11.11%. Alongside, our most recent consensus estimate is anticipating revenue of $23.68 million, indicating a 78.47% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.36 per share and a revenue of $82.59 million, demonstrating changes of +5.26% and +80.05%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. 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. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.