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SoundHound AI, Inc. (SOUN) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $5.09, marking a -0.97% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.28%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 0.33%.
The the stock of company has risen by 9.59% in the past month, leading the Computer and Technology sector's gain of 2.1% and the S&P 500's gain of 0.41%.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 12, 2024. The company is forecasted to report an EPS of -$0.08, showcasing a 11.11% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $23.68 million, indicating a 78.47% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.36 per share and revenue of $82.59 million, which would represent changes of +5.26% and +80.05%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SoundHound AI, Inc. currently has a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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SoundHound AI, Inc. (SOUN) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, SoundHound AI, Inc. (SOUN - Free Report) closed at $5.09, marking a -0.97% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.28%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 0.33%.
The the stock of company has risen by 9.59% in the past month, leading the Computer and Technology sector's gain of 2.1% and the S&P 500's gain of 0.41%.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 12, 2024. The company is forecasted to report an EPS of -$0.08, showcasing a 11.11% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $23.68 million, indicating a 78.47% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.36 per share and revenue of $82.59 million, which would represent changes of +5.26% and +80.05%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SoundHound AI, Inc. currently has a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.