SoundHound AI, Inc. (SOUN) Stock Dips While Market Gains: Key Facts

Company Performance - SoundHound AI, Inc. (SOUN) closed at $6.01, reflecting a -1.8% change from the previous day, underperforming the S&P 500 which gained 0.16% [1] - Over the past month, shares of SoundHound AI have increased by 31.33%, significantly outperforming the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67% [1] Upcoming Earnings - The company's earnings report is scheduled for November 12, 2024, with an expected EPS of -$0.08, representing an 11.11% increase from the same quarter last year [2] - Revenue is anticipated to be $23.68 million, indicating a substantial 78.47% increase compared to the same quarter last year [2] Fiscal Year Estimates - For the entire fiscal year, Zacks Consensus Estimates predict an EPS of -$0.36 and revenue of $82.59 million, reflecting changes of +5.26% and +80.05% respectively from the previous year [3] Analyst Estimates - Recent adjustments to analyst estimates for SoundHound AI are crucial as they reflect short-term business trends, with positive revisions indicating analyst optimism about the company's profitability [4] - The Zacks Rank system, which incorporates these estimate changes, provides actionable ratings for investors [5] Zacks Rank and Industry Performance - SoundHound AI currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate remaining unchanged over the last 30 days [6] - The Computers - IT Services industry, part of the Computer and Technology sector, ranks in the top 19% of all industries according to the Zacks Industry Rank [7]