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SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know
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SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $4.62, moving -0.22% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the company had gained 5.23% in the past month. In that same time, the Business Services sector lost 3.62%, while the S&P 500 lost 4.61%.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be January 30, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.09 per share. This would mark year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $424.17 million, up 48.51% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 3.16% lower. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
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) Stock Sinks As Market Gains: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $4.62, moving -0.22% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the company had gained 5.23% in the past month. In that same time, the Business Services sector lost 3.62%, while the S&P 500 lost 4.61%.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be January 30, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.09 per share. This would mark year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $424.17 million, up 48.51% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 3.16% lower. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.