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SoundHound AI (SOUN) Surges 22.1%: Is This an Indication of Further Gains?
SoundHound AISoundHound AI(US:SOUN) ZACKS·2024-11-08 16:45

Stock Performance - SoundHound AI shares surged 22.1% in the last trading session, closing at $6.95, driven by higher-than-usual trading volume [1] - The stock has gained 22.9% over the past four weeks [1] - SAIC shares declined 0.2% in the last trading session, closing at $148.94, with a 4.1% return over the past month [3] Financial Expectations - SoundHound AI is expected to post a quarterly loss of $0.08 per share, representing a year-over-year improvement of 11.1% [2] - Revenue for SoundHound AI is projected at $23.68 million, a 78.5% increase from the year-ago quarter [2] - SAIC's consensus EPS estimate for the upcoming report remains unchanged at $2.17, reflecting a 4.4% decline from the previous year [4] Business Development - SoundHound AI is expanding its portfolio and client base, offering Voice AI solutions in multiple languages for cloud and device-based systems [1] Industry Context - SoundHound AI operates in the Zacks Computers - IT Services industry, alongside SAIC [3] - SAIC currently holds a Zacks Rank of 2 (Buy), while SoundHound AI has a Zacks Rank of 3 (Hold) [3][4]