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SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know

SoFi Technologies, Inc. (SOFI) closed the latest trading day at $6.42, indicating a -0.62% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.25%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.03%.

Heading into today, shares of the company had lost 10.15% over the past month, lagging the Business Services sector's loss of 0.98% and the S&P 500's gain of 3.34% in that time.

The upcoming earnings release of SoFi Technologies, Inc. will be of great interest to investors. The company is expected to report EPS of $0.01, up 116.67% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $563.29 million, showing a 15.23% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.08 per share and revenue of $2.39 billion, which would represent changes of +122.22% and +15.19%, respectively, from the prior year.

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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.

Our research demonstrates that these adjustments in estimates directly associate with imminent 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 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. At present, SoFi Technologies, Inc. boasts a Zacks Rank of #3 (Hold).

Digging into valuation, SoFi Technologies, Inc. currently has a Forward P/E ratio of 76.27. Its industry sports an average Forward P/E of 21.69, 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 1.49 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Technology Services was holding an average PEG ratio of 1.43 at yesterday's closing price.

The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 25% of over 250 industries.

The Zacks Industry Rank gauges the strength of our individual 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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report

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