Investing In SoundHound AI, Inc. (SOUN) Stock: Some Information

(CTN News) – SoundHound AI, Inc. (SOUN) closed at $2.25 during the most recent trading session, reflecting a -1.1% change from the previous day’s closing price.

According to the S&P 500, this change lagged behind the S&P 500’s daily gain of 0.96%. Dow Jones gained 0.4%, while Nasdaq, a tech-heavy index, gained 1.3%.

The stock of the company has appreciated by 25% in the past month, exceeding the gains of the Computer and Technology sector of 6.92% and the S&P 500 of 3.69%.

It will be interesting to see how SoundHound AI, Inc.

Performs in its upcoming earnings report. An EPS of -$0.06 is expected to be reported by the company, which represents a 60% increase from the corresponding quarter a year ago. The most recent consensus estimate projects revenue of $17.9 million, an increase of 88.45% from the previous year’s equivalent quarter.

Investors should also be aware of any recent revisions to analyst estimates for SoundHound AI, Inc. As a general rule, such recent modifications indicate that near-term business trends are changing.

Consequently, analysts’ upward revisions of estimates reflect their optimism regarding the company’s business operations and profitability prospects.

Based on our research, it has been demonstrated that these changes in estimate are directly related to near-term stock prices. Zacks Rank was developed in order to capitalize on this phenomenon.

These estimate changes are taken into account by our system, and we provide a clear, actionable rating model as a result.

Among stocks with a Zacks Rank of #1 (Strong Buy) and #5 (Strong Sell), stocks at #1 have delivered an SoundHound average annual return of +25% since 1988, which has been verified by external audits.

In the last 30 days, the Zacks Consensus EPS estimate has decreased by 0.93%. A Zacks Rank of #4 (Sell) is currently assigned to SoundHound AI, Inc.

The Computers – IT Services industry is part of the Computer and Technology industry. Currently, this industry has a Zacks Industry Rank of 101, which places it in the top 41% of all 250+ industries.

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