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SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know
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SoFi Technologies, Inc. (SOFI - Free Report) closed at $9.43 in the latest trading session, marking a -1.46% move from the prior day. This change lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the company had gained 12.72% over the past month. This has outpaced the Business Services sector's gain of 2.68% and the S&P 500's gain of 3.43% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.06 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $474.6 million, up 30.91% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $1.98 billion, which would represent changes of +57.5% and +25.8%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 6.08% lower. SoFi Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 125, which puts it in the top 50% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed at $9.43 in the latest trading session, marking a -1.46% move from the prior day. This change lagged the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the company had gained 12.72% over the past month. This has outpaced the Business Services sector's gain of 2.68% and the S&P 500's gain of 3.43% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.06 per share. This would mark year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $474.6 million, up 30.91% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $1.98 billion, which would represent changes of +57.5% and +25.8%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 6.08% lower. SoFi Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 125, which puts it in the top 50% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.