SoundHound AI, Inc. (SOUN) closed at $6.01 in the latest trading session, marking a -1.8% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.16%. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.78%.

Prior to today's trading, shares of the company had gained 31.33% over the past month. This has outpaced the Computer and Technology sector's gain of 1.87% and the S&P 500's gain of 1.67% in that time.

Investors will be eagerly watching for the performance of SoundHound AI, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 12, 2024. The company is expected to report EPS of -$0.08, up 11.11% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $23.68 million, indicating a 78.47% upward movement from the same quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.36 per share and a revenue of $82.59 million, indicating changes of +5.26% and +80.05%, respectively, from the former year.

Investors should also take note of any recent adjustments to analyst estimates for SoundHound AI, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. SoundHound AI, Inc. presently features a Zacks Rank of #3 (Hold).

The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 19% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.