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SoFi Technologies, Inc. (SOFI) Rises Higher Than Market: Key Facts
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SoFi Technologies, Inc. (SOFI - Free Report) closed the latest trading day at $7.41, indicating a +1.93% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 1.11%. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
The company's shares have seen an increase of 11.16% over the last month, surpassing the Business Services sector's loss of 2.82% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company is predicted to post an EPS of $0, indicating a 100% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $563.56 million, up 15.29% from the prior-year quarter.
SOFI's full-year Zacks Consensus Estimates are calling for earnings of $0.08 per share and revenue of $2.38 billion. These results would represent year-over-year changes of +122.22% and +15%, respectively.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.47% lower. At present, SoFi Technologies, Inc. boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, SoFi Technologies, Inc. is currently exchanging hands at a Forward P/E ratio of 86.23. Its industry sports an average Forward P/E of 23.04, so one might conclude that SoFi Technologies, Inc. is trading at a premium comparatively.
Investors should also note that SOFI has a PEG ratio of 1.69 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry had an average PEG ratio of 1.48 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 87, 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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SoFi Technologies, Inc. (SOFI) Rises Higher Than Market: Key Facts
SoFi Technologies, Inc. (SOFI - Free Report) closed the latest trading day at $7.41, indicating a +1.93% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 1.11%. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
The company's shares have seen an increase of 11.16% over the last month, surpassing the Business Services sector's loss of 2.82% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company is predicted to post an EPS of $0, indicating a 100% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $563.56 million, up 15.29% from the prior-year quarter.
SOFI's full-year Zacks Consensus Estimates are calling for earnings of $0.08 per share and revenue of $2.38 billion. These results would represent year-over-year changes of +122.22% and +15%, respectively.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.47% lower. At present, SoFi Technologies, Inc. boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, SoFi Technologies, Inc. is currently exchanging hands at a Forward P/E ratio of 86.23. Its industry sports an average Forward P/E of 23.04, so one might conclude that SoFi Technologies, Inc. is trading at a premium comparatively.
Investors should also note that SOFI has a PEG ratio of 1.69 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry had an average PEG ratio of 1.48 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 87, 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.