SoundHound AI, Inc. (SOUN) Increases Despite Market Slip: Here's What You Need to Know

In the latest trading session, SoundHound AI, Inc. (SOUN) closed at $11.38, marking a +2.61% move from the previous day. This change outpaced the S&P 500's 0.79% loss on the day. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw a decrease of 0.92%. Shares of the company witnessed a gain of 9.69% over the previous month, beating the performance of the Computer and Technology sector with its gain of 7.88%, and the S&P 500's gain of 5.22%.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. Meanwhile, the latest consensus estimate predicts the revenue to be $33.03 million, indicating a 145.36% increase compared to the same quarter of the previous year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $161.82 million. These totals would mark changes of +84.62% and +91.07%, respectively, from last year. It's also important for investors to be aware of any recent modifications to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, SoundHound AI, Inc. boasts a Zacks Rank of #3 (Hold). The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 60, putting it in the top 25% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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. Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity.Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SoundHound AI, Inc. (SOUN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks