SoundHound AI, Inc. (SOUN) closed the most recent trading session at $4.97, up -0.8% from the previous trading session. This change lagged the S&P 500’s loss of 0.19% on the day. Meanwhile, the Dow Jones was up 0.09%, and the tech-dominated Nasdaq was down 0.36%.
Shares of the company have gained 1.62% over the past month, outpacing the Computer and Technology sector’s loss of 0.09% and lagging the S&P 500’s gain of 2.06%.
Analysts and investors will be closely watching SoundHound AI, Inc.’s performance when it next releases its earnings results. On that day, SoundHound AI, Inc. is expected to report earnings of -$0.08 per share, which would represent year-over-year growth of 11.11%. Meanwhile, our most recent consensus estimate is calling for revenue of $23.68 million, which would indicate an increase of 78.47% from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.36 per share and revenue of $82.59 million, showing changes of +5.26% and +80.05%, respectively, from the prior year.
Investors should also note recent adjustments to analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect recent short-term business trends. As a result, positive changes to estimates signify analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this correlation, we have developed the Zacks Rank, a proprietary model that takes these estimate changes into account and provides an actionable 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 ranked stocks generating an average annual return of +25% since 1988. Over the past month, there has been no change in the Zacks Consensus EPS estimate. Currently, SoundHound AI, Inc. carries a Zacks Rank of #3 (Hold).
The Computer Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 55, this sector ranks in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our specific industry groups by calculating 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.
Be sure to use Zacks.com to follow these and other stock-moving indicators in the coming trading sessions.
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SoundHound AI, Inc. (SOUN) : Free Stock Analysis Report