SoundHound AI, Inc. (SOUN) ended the recent trading session at $10.48, demonstrating a -2.33% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.11%. Meanwhile, the Dow experienced a rise of 0.91%, and the technology-dominated Nasdaq saw a decrease of 0.82%.
Shares of the company have appreciated by 7.62% over the course of the past month, underperforming the Computer and Technology sector's gain of 8.76%, and outperforming the S&P 500's gain of 5.17%.
The investment community will be paying close attention to the earnings performance of SoundHound AI, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.06, showcasing a 45.45% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $33.03 million, reflecting a 145.36% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.16 per share and a revenue of $161.82 million, representing changes of +84.62% and +91.07%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications 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.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 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 past month, there's been no change in the Zacks Consensus EPS estimate. As of now, SoundHound AI, Inc. holds a Zacks Rank of #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 43, this industry ranks in the top 18% of all industries, numbering over 250.
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.
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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