SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know
SoFi Technologies, Inc. (SOFI) closed the most recent trading day at $5.72, moving -0.52% from the previous trading session. This change lagged the S&P 500's 0.57% gain on the day. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.33%.
Coming into today, shares of the company had lost 10.71% in the past month. In that same time, the Business Services sector lost 0.33%, while the S&P 500 gained 1.72%.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.09 per share. This would mark year-over-year growth of 35.71%. Meanwhile, our latest consensus estimate is calling for revenue of $442.67 million, up 34% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $1.99 billion, which would represent changes of +47.5% and +26.5%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. 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.
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 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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