SoundHound AI, Inc. (SOUN) ended the recent trading session at $8.20, demonstrating a +0.99% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.38% gain on the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq added 0.87%.
The the stock of company has fallen by 21.32% in the past month, lagging the Computer and Technology sector's loss of 8.94% and the S&P 500's loss of 5.59%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.07, unchanged from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $30.21 million, indicating a 160.62% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.16 per share and revenue of $165.76 million, indicating changes of +84.62% and +95.72%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.71% downward. 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. This group has a Zacks Industry Rank of 78, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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