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SoundHound AI, Inc. (SOUN) Increases Despite Market Slip: Here's What You Need to Know
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SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $14.24, demonstrating a +0.64% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq lost 1.2%.
Heading into today, shares of the company had lost 31.38% over the past month, lagging the Computer and Technology sector's gain of 1.75% and the S&P 500's gain of 2.71% in that time.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 83.33%. Our most recent consensus estimate is calling for quarterly revenue of $33.49 million, up 95.29% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These revisions help to show the ever-changing nature of near-term business trends. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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SoundHound AI, Inc. (SOUN) Increases Despite Market Slip: Here's What You Need to Know
SoundHound AI, Inc. (SOUN - Free Report) ended the recent trading session at $14.24, demonstrating a +0.64% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq lost 1.2%.
Heading into today, shares of the company had lost 31.38% over the past month, lagging the Computer and Technology sector's gain of 1.75% and the S&P 500's gain of 2.71% in that time.
Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.11 per share, which would represent a year-over-year decline of 83.33%. Our most recent consensus estimate is calling for quarterly revenue of $33.49 million, up 95.29% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These revisions help to show the ever-changing nature of near-term business trends. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, SoundHound AI, Inc. is carrying a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.