SoundHound AI, Inc. (SOUN) closed the latest trading day at $14.23, indicating a +1.14% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 0.92%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq gained 2.03%.
The company's stock has dropped by 37.96% in the past month, falling short of the Computer and Technology sector's loss of 2.99% and the S&P 500's gain of 0.81%.
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 -$0.11 per share. This would mark a year-over-year decline of 83.33%. Our most recent consensus estimate is calling for quarterly revenue of $33.49 million, up 95.29% from the year-ago period.
Investors might also notice recent changes to analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return 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 #3 (Hold).
The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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