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SoFi Technologies, Inc. (SOFI) Exceeds Market Returns: Some Facts to Consider
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SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $7.40, moving +1.16% from the previous trading session. This change outpaced the S&P 500's 1.11% gain on the day. Elsewhere, the Dow saw an upswing of 0.8%, while the tech-heavy Nasdaq appreciated by 1.24%.
Shares of the company witnessed a loss of 2.14% over the previous month, trailing the performance of the Business Services sector with its loss of 1.94% and the S&P 500's gain of 0.48%.
Analysts and investors alike will be keeping a close eye on the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on April 29, 2024. The company's earnings per share (EPS) are projected to be $0.01, reflecting a 120% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $571.25 million, up 24.14% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.07 per share and revenue of $2.38 billion, indicating changes of +119.44% and +14.89%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoFi Technologies, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.28% higher within the past month. Currently, SoFi Technologies, Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, SoFi Technologies, Inc. is currently trading at a Forward P/E ratio of 101.8. This indicates a premium in contrast to its industry's Forward P/E of 24.3.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 86, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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SoFi Technologies, Inc. (SOFI) Exceeds Market Returns: Some Facts to Consider
SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $7.40, moving +1.16% from the previous trading session. This change outpaced the S&P 500's 1.11% gain on the day. Elsewhere, the Dow saw an upswing of 0.8%, while the tech-heavy Nasdaq appreciated by 1.24%.
Shares of the company witnessed a loss of 2.14% over the previous month, trailing the performance of the Business Services sector with its loss of 1.94% and the S&P 500's gain of 0.48%.
Analysts and investors alike will be keeping a close eye on the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on April 29, 2024. The company's earnings per share (EPS) are projected to be $0.01, reflecting a 120% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $571.25 million, up 24.14% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.07 per share and revenue of $2.38 billion, indicating changes of +119.44% and +14.89%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoFi Technologies, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.28% higher within the past month. Currently, SoFi Technologies, Inc. is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, SoFi Technologies, Inc. is currently trading at a Forward P/E ratio of 101.8. This indicates a premium in contrast to its industry's Forward P/E of 24.3.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 86, this industry ranks in the top 35% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.