We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SoundHound AI, Inc. (SOUN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Read MoreHide Full Article
SoundHound AI, Inc. (SOUN - Free Report) closed the most recent trading day at $5.31, moving -1.48% from the previous trading session. This move lagged the S&P 500's daily loss of 0.05%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.18%.
The company's stock has climbed by 10.45% in the past month, exceeding the Computer and Technology sector's gain of 3.5% and the S&P 500's gain of 2.76%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.08, marking a 11.11% rise compared to the same quarter of the previous year. 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.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.36 per share and revenue of $82.59 million. These results would represent year-over-year changes of +5.26% and +80.05%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, there's been no change in the Zacks Consensus EPS estimate. 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. This group has a Zacks Industry Rank of 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
SoundHound AI, Inc. (SOUN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
SoundHound AI, Inc. (SOUN - Free Report) closed the most recent trading day at $5.31, moving -1.48% from the previous trading session. This move lagged the S&P 500's daily loss of 0.05%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.18%.
The company's stock has climbed by 10.45% in the past month, exceeding the Computer and Technology sector's gain of 3.5% and the S&P 500's gain of 2.76%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.08, marking a 11.11% rise compared to the same quarter of the previous year. 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.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.36 per share and revenue of $82.59 million. These results would represent year-over-year changes of +5.26% and +80.05%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for SoundHound AI, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, there's been no change in the Zacks Consensus EPS estimate. 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. This group has a Zacks Industry Rank of 46, putting it in the top 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.