In the latest close session, SoundHound AI, Inc. (SOUN) was down 1.53% at $11.57. The stock's change was less than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.26%.
The company's shares have seen an increase of 0.86% over the last month, surpassing the Computer and Technology sector's loss of 0.85% and falling behind the S&P 500's gain of 1.89%.
The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.02, signifying a 97.10% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $54.88 million, up 58.88% from the prior-year quarter.
SOUN's full-year Zacks Consensus Estimates are calling for earnings of -$0.14 per share and revenue of $168.75 million. These results would represent year-over-year changes of +86.54% and 0%, respectively.
It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.26% upward. At present, SoundHound AI, Inc. boasts a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 38% echelons 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SoundHound AI, Inc. (SOUN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
