SoundHound AI, Inc. (SOUN) ended the recent trading session at $9.15, demonstrating a -1.51% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.63%. At the same time, the Dow added 0.21%, and the tech-heavy Nasdaq gained 1.52%.
Prior to today's trading, shares of the company had gained 7.27% over the past month. This has outpaced the Computer and Technology sector's gain of 1.66% and the S&P 500's loss of 0.7% in that time.
Analysts and investors alike will be keeping a close eye on the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on May 8, 2025. On that day, SoundHound AI, Inc. is projected to report earnings of -$0.07 per share, which would represent no growth from the year-ago period. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $30.21 million, up 160.62% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $165.76 million. These totals would mark changes of +84.62% and +95.72%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, SoundHound AI, Inc. possesses a Zacks Rank of #5 (Strong Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 165, this industry ranks in the bottom 34% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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