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

In the latest close session, SoundHound AI, Inc. (SOUN) was up +2.93% at $15.12. The stock outperformed the S&P 500, which registered a daily loss of 0.1%. On the other hand, the Dow registered a gain of 0.57%, and the technology-centric Nasdaq decreased by 0.33%. Prior to today's trading, shares of the company had gained 10.45% outpaced the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 2.57%.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 -$0.04, showcasing a 33.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $40.1 million, up 59.83% from the year-ago period. For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.13 per share and revenue of $165.37 million, which would represent changes of +87.5% and +95.26%, respectively, from the prior year. It is also important to note the recent changes to analyst estimates for SoundHound AI, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent 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. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.67% lower. Currently, SoundHound AI, Inc. is carrying 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 103, this industry ranks in the top 42% of all industries, numbering over 250. The Zacks Industry Rank gauges the strength of our 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. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum 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