SoundHound AI, Inc. (SOUN) closed at $7.83 in the latest trading session, marking a +0.84% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.13%. On the other hand, the Dow registered a loss of 1.33%, and the technology-centric Nasdaq decreased by 0.13%.

Shares of the company witnessed a loss of 21.22% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 9.27% and the S&P 500's loss of 6.3%.

Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.07, marking stability compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $30.21 million, reflecting a 160.62% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.16 per share and a revenue of $165.76 million, signifying shifts of +84.62% and +95.72%, respectively, from the last year.

Investors should also pay attention to any latest changes in analyst estimates for SoundHound AI, Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SoundHound AI, Inc. presently features a Zacks Rank of #3 (Hold).

The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 36% of over 250 industries.

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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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