SoundHound AI, Inc. (SOUN) closed at $10.20 in the latest trading session, marking a -1.07% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 0.46%.

Shares of the company witnessed a gain of 9.33% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.94% and the S&P 500's loss of 3.59%.

The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.07, indicating constancy compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $30.21 million, indicating a 160.62% upward movement from the same quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $165.76 million. These totals would mark changes of +84.62% and +95.72%, respectively, from last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoundHound AI, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.72% lower 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. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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SoundHound AI, Inc. (SOUN) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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