SoundHound AI, Inc. (SOUN) ended the recent trading session at $8.26, demonstrating a -1.9% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.84%. On the other hand, the Dow registered a loss of 0.34%, and the technology-centric Nasdaq decreased by 1.43%.
Shares of the company have depreciated by 23.46% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.75%, and the S&P 500's gain of 1.8%.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. In that report, analysts expect SoundHound AI, Inc. to post earnings of -$0.02 per share. This would mark year-over-year growth of 97.1%. Meanwhile, the latest consensus estimate predicts the revenue to be $53.96 million, indicating a 56.22% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.15 per share and a revenue of $167.84 million, indicating changes of +85.58% and 0%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. SoundHound AI, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 40% 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.
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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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