SoundHound AI, Inc. (SOUN) Stock Declines While Market Improves: Some Information for Investors

SoundHound AI, Inc. (SOUN) closed the latest trading day at $12.79, indicating a -0.23% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.12% for the day. Elsewhere, the Dow gained 0.52%, while the tech-heavy Nasdaq lost 0.23%.The company's shares have seen a decrease of 34.89% over the last month, not keeping up with the Computer and Technology sector's loss of 3.73% and the S&P 500's loss of 3.45%.The investment community will be closely monitoring the performance of SoundHound AI, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.11, reflecting an 83.33% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.49 million, up 95.29% from the year-ago period.Investors might also notice recent changes to 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.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, SoundHound AI, Inc. possesses 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 68, placing it within the top 28% of over 250 industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks