The latest trading session saw SoundHound AI, Inc. (SOUN) ending at $9.52, denoting a +1.44% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.74% for the day. Meanwhile, the Dow experienced a rise of 0.05%, and the technology-dominated Nasdaq saw an increase of 1.26%.
The company's shares have seen an increase of 5.63% over the last month, surpassing the Computer and Technology sector's loss of 6.23% and the S&P 500's loss of 4.77%.
Market participants will be closely following the financial results of SoundHound AI, Inc. in its upcoming release. The company plans to announce its earnings on May 8, 2025. The company is forecasted to report an EPS of -$0.07, showcasing no movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $30.21 million, indicating a 160.62% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.16 per share and revenue of $165.76 million, which would represent changes of +84.62% and +95.72%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. SoundHound AI, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SOUN in the coming trading sessions, be sure to utilize 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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