SoFi Technologies, Inc. (SOFI) closed the most recent trading day at $4.88, moving +0.83% from the previous trading session. This change outpaced the S&P 500's 1.51% loss on the day. At the same time, the Dow lost 1.71%, and the tech-heavy Nasdaq lost 0.02%.
Coming into today, shares of the company had lost 17.27% in the past month. In that same time, the Business Services sector lost 11.92%, while the S&P 500 lost 9.52%.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.10 per share. This would mark a year-over-year decline of 100%. Meanwhile, our latest consensus estimate is calling for revenue of $391.84 million, up 41.36% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.45 per share and revenue of $1.5 billion. These totals would mark changes of +55% and +52.3%, respectively, from last year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.05% higher. SoFi Technologies, Inc. is currently sporting 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 169, which puts it in the bottom 33% 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.
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