SoundHound AI, Inc. (SOUN) closed the most recent trading day at $11.70, moving -8.67% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.14%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.38%.
Coming into today, shares of the company had gained 33.86% in the past month. In that same time, the Computer and Technology sector gained 7.37%, while the S&P 500 gained 5.35%.
The upcoming earnings release of SoundHound AI, Inc. will be of great interest to investors. The company is predicted to post an EPS of -$0.06, indicating a 45.45% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $33.03 million, up 145.36% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $161.82 million. These totals would mark changes of +84.62% and +91.07%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, the Zacks Consensus EPS estimate remained stagnant. At present, SoundHound AI, Inc. boasts a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 34% echelons 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.
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): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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