SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $9.72, moving +0.83% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.17% for the day. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the company had gained 39.71% over the past month. This has outpaced the Business Services sector's gain of 7.17% and the S&P 500's gain of 4.71% in that time.
Investors will be eagerly watching for the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0, showcasing a 100% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $575.85 million, showing a 26.1% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.39 per share and a revenue of $2.06 billion, demonstrating changes of +2.5% and +30.79%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SoFi Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 6.77% higher. Currently, SoFi Technologies, Inc. is carrying a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 68, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $9.72, moving +0.83% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.17% for the day. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the company had gained 39.71% over the past month. This has outpaced the Business Services sector's gain of 7.17% and the S&P 500's gain of 4.71% in that time.
Investors will be eagerly watching for the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0, showcasing a 100% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $575.85 million, showing a 26.1% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.39 per share and a revenue of $2.06 billion, demonstrating changes of +2.5% and +30.79%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SoFi Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 6.77% higher. Currently, SoFi Technologies, Inc. is carrying a Zacks Rank of #2 (Buy).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 68, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
Get the latest research report on SOFI - FREE