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SoFi Technologies, Inc. (SOFI) Outpaces Stock Market Gains: What You Should Know
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SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $7.04, moving +1% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.99%. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, lost 0.31%.
Prior to today's trading, shares of the company had gained 24.46% over the past month. This has outpaced the Business Services sector's gain of 9.63% and the S&P 500's gain of 7.91% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2022. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 75%. Meanwhile, our latest consensus estimate is calling for revenue of $345.99 million, up 49.6% 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 +52.74%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc.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. The Zacks Consensus EPS estimate remained stagnant within the past month. SoFi Technologies, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SoFi Technologies, Inc. (SOFI) Outpaces Stock Market Gains: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $7.04, moving +1% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.99%. Meanwhile, the Dow gained 0.51%, and the Nasdaq, a tech-heavy index, lost 0.31%.
Prior to today's trading, shares of the company had gained 24.46% over the past month. This has outpaced the Business Services sector's gain of 9.63% and the S&P 500's gain of 7.91% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2022. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.12 per share. This would mark year-over-year growth of 75%. Meanwhile, our latest consensus estimate is calling for revenue of $345.99 million, up 49.6% 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 +52.74%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc.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. The Zacks Consensus EPS estimate remained stagnant within the past month. SoFi Technologies, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.