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SoFi Technologies, Inc. (SOFI) Gains But Lags Market: What You Should Know
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SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $5.45, moving +0.74% from the previous trading session. This change lagged the S&P 500's 1.76% gain on the day. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 3.03%.
Coming into today, shares of the company had lost 25.38% in the past month. In that same time, the Business Services sector lost 8.48%, while the S&P 500 lost 5.94%.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 35.71%. Our most recent consensus estimate is calling for quarterly revenue of $434.67 million, up 31.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $1.97 billion, which would represent changes of +47.5% and +25.39%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 1.45% 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 104, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SoFi Technologies, Inc. (SOFI) Gains But Lags Market: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $5.45, moving +0.74% from the previous trading session. This change lagged the S&P 500's 1.76% gain on the day. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 3.03%.
Coming into today, shares of the company had lost 25.38% in the past month. In that same time, the Business Services sector lost 8.48%, while the S&P 500 lost 5.94%.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 35.71%. Our most recent consensus estimate is calling for quarterly revenue of $434.67 million, up 31.58% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $1.97 billion, which would represent changes of +47.5% and +25.39%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 has moved 1.45% 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 104, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.