Growth Trends
The company's stock has shown significant growth trends recently. Over the past month, SOUN's stock price climbed by 25%, outperforming both the Computer and Technology sector's gain of 6.92% and the S&P 500's increase of 3.69%.
Earnings Forecast
Investors are eagerly awaiting SOUN's upcoming earnings disclosure, with the company forecasted to report an EPS of -$0.06. This projection showcases a substantial 60% upward movement from the corresponding quarter of the prior year.
Revenue Projection
Alongside earnings, analysts are projecting a revenue of $17.9 million for SoundHound AI, Inc., reflecting an impressive 88.45% rise from the equivalent quarter last year.
Analyst Estimates
Recent adjustments to analyst estimates for SoundHound AI, Inc. are crucial indicators of changing business trends. Upward revisions in estimates demonstrate analysts' positivity towards the company's business operations and its potential to generate profits.
Zacks Rank System
The Zacks Rank system provides a clear and actionable rating model based on analyst estimate changes. Stocks are ranked between #1 (Strong Buy) and #5 (Strong Sell), with a proven track record of exceeding expectations. Currently, SoundHound AI, Inc. holds a Zacks Rank of #4 (Sell).
Historical Performance
Stocks ranked #1 have historically delivered an average annual return of +25% since 1988. However, over the last 30 days, the Zacks Consensus EPS estimate for SOUN witnessed a 0.93% decrease.
Computers - IT Services Industry
SoundHound AI, Inc. operates within the Computers - IT Services industry, which currently holds a Zacks Industry Rank of 101, positioning it in the top 41% of all industries. The industry's strength directly impacts the performance of companies like SoundHound AI, Inc.
Conclusion
The recent performance and growth trends of SoundHound AI, Inc. indicate positive momentum, with significant potential for future earnings and revenue growth. However, investors should carefully consider analyst estimates, Zacks Rank, and industry positioning before making investment decisions.
FAQs
- What is SoundHound AI, Inc.'s recent stock performance?
- SOUN's stock closed at $2.25 in the latest trading session, reflecting a -1.1% change from the previous day's close.
- How does SOUN's recent performance compare to market indices?
- SOUN's performance lagged behind the S&P 500 but outperformed the Dow and Nasdaq.
- What growth trends has SoundHound AI, Inc. exhibited recently?
- SOUN's stock climbed by 25% over the past month, surpassing sector and market gains.
- What are analysts forecasting for SOUN's earnings and revenue?
- Analysts project an EPS of -$0.06 and revenue of $17.9 million, showcasing significant growth.
- What is the significance of the Zacks Rank for SoundHound AI, Inc.?
- The Zacks Rank provides insights into analyst sentiment and historical stock performance, guiding investment decisions.
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