In the latest close session, SoundHound AI, Inc. (SOUN) was up +1.63% at $10.62. This move outpaced the S&P 500's daily gain of 1.16%. At the same time, the Dow added 1.21%, and the tech-heavy Nasdaq gained 1.18%.
Shares of the company have depreciated by 5% over the course of the past month, underperforming the Computer and Technology sector's loss of 1.07%, and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. The company is expected to report EPS of -$0.02, up 97.1% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $53.96 million, up 56.22% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.15 per share and a revenue of $167.84 million, demonstrating changes of +85.58% and 0%, respectively, from the preceding year.
Any recent changes to analyst estimates for SoundHound AI, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 52, finds itself in the top 22% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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