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SoFi Technologies, Inc. (SOFI) Gains As Market Dips: What You Should Know
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SoFi Technologies, Inc. (SOFI - Free Report) closed the latest trading day at $7.83, indicating a +0.51% change from the previous session's end. This change outpaced the S&P 500's 0.17% loss on the day. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.04%.
Shares of the company witnessed a gain of 4.14% over the previous month, beating the performance of the Finance sector with its loss of 0.26% and the S&P 500's gain of 1.25%.
The upcoming earnings release of SoFi Technologies, Inc. will be of great interest to investors. The company's earnings report is expected on October 29, 2024. The company's upcoming EPS is projected at $0.04, signifying a 233.33% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $634.64 million, up 19.58% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.10 per share and revenue of $2.46 billion. These totals would mark changes of +127.78% and +18.65%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.61% upward. 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 79.57. This represents a premium compared to its industry's average Forward P/E of 11.48.
Investors should also note that SOFI has a PEG ratio of 1.56 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 1.15 at the close of the market yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
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.
To follow SOFI in the coming trading sessions, be sure to utilize Zacks.com.
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SoFi Technologies, Inc. (SOFI) Gains As Market Dips: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed the latest trading day at $7.83, indicating a +0.51% change from the previous session's end. This change outpaced the S&P 500's 0.17% loss on the day. At the same time, the Dow lost 0.44%, and the tech-heavy Nasdaq lost 0.04%.
Shares of the company witnessed a gain of 4.14% over the previous month, beating the performance of the Finance sector with its loss of 0.26% and the S&P 500's gain of 1.25%.
The upcoming earnings release of SoFi Technologies, Inc. will be of great interest to investors. The company's earnings report is expected on October 29, 2024. The company's upcoming EPS is projected at $0.04, signifying a 233.33% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $634.64 million, up 19.58% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.10 per share and revenue of $2.46 billion. These totals would mark changes of +127.78% and +18.65%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.61% upward. 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 79.57. This represents a premium compared to its industry's average Forward P/E of 11.48.
Investors should also note that SOFI has a PEG ratio of 1.56 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 1.15 at the close of the market yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 83, finds itself in the top 33% echelons of all 250+ industries.
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.
To follow SOFI in the coming trading sessions, be sure to utilize Zacks.com.