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SoFi Technologies, Inc. (SOFI) Gains But Lags Market: What You Should Know
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In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $5.45, marking a +1.87% move from the previous day. This move lagged the S&P 500's daily gain of 2.46%. Elsewhere, the Dow gained 2.59%, while the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the company had gained 10.54% over the past month, outpacing the Business Services sector's gain of 4.41% and the S&P 500's gain of 4.56% in that time.
Investors will be hoping for strength from SoFi Technologies, Inc. as it approaches its next earnings release, which is expected to be November 1, 2022. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.10 per share, which would represent a year-over-year decline of 100%. Our most recent consensus estimate is calling for quarterly revenue of $390.96 million, up 41.05% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.45 per share and revenue of $1.5 billion, which would represent changes of +55% and +52.3%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.63% higher within the past month. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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SoFi Technologies, Inc. (SOFI) Gains But Lags Market: What You Should Know
In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $5.45, marking a +1.87% move from the previous day. This move lagged the S&P 500's daily gain of 2.46%. Elsewhere, the Dow gained 2.59%, while the tech-heavy Nasdaq lost 0.2%.
Heading into today, shares of the company had gained 10.54% over the past month, outpacing the Business Services sector's gain of 4.41% and the S&P 500's gain of 4.56% in that time.
Investors will be hoping for strength from SoFi Technologies, Inc. as it approaches its next earnings release, which is expected to be November 1, 2022. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.10 per share, which would represent a year-over-year decline of 100%. Our most recent consensus estimate is calling for quarterly revenue of $390.96 million, up 41.05% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.45 per share and revenue of $1.5 billion, which would represent changes of +55% and +52.3%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.63% higher within the past month. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.