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SoFi Technologies, Inc. (SOFI) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, SoFi Technologies, Inc. (SOFI) closed at $5.54, marking a -0.36% move from the previous day. This move lagged the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 0.02%.

Prior to today's trading, shares of the company had lost 25.67% over the past month. This has lagged the Business Services sector's loss of 8.85% and the S&P 500's loss of 7.99% in that time.

SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.12, up 75% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $346.79 million, up 49.95% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.45 per share and revenue of $1.51 billion. These totals would mark changes of +55% and +53.16%, respectively, from last year.

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Investors might also notice recent changes to analyst estimates for SoFi Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained stagnant. SoFi Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% 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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