We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
SoFi Technologies, Inc. (SOFI - Free Report) closed at $5.71 in the latest trading session, marking a -1.38% move from the prior day. This move lagged the S&P 500's daily gain of 1.1%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Heading into today, shares of the company had gained 32.49% over the past month, outpacing the Business Services sector's gain of 7.72% and the S&P 500's gain of 4.58% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be January 30, 2023. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $426.37 million, up 49.28% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 5.75% lower. SoFi Technologies, Inc. is currently a Zacks Rank #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed at $5.71 in the latest trading session, marking a -1.38% move from the prior day. This move lagged the S&P 500's daily gain of 1.1%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 6.59%.
Heading into today, shares of the company had gained 32.49% over the past month, outpacing the Business Services sector's gain of 7.72% and the S&P 500's gain of 4.58% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be January 30, 2023. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.09 per share, which would represent year-over-year growth of 40%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $426.37 million, up 49.28% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 5.75% lower. SoFi Technologies, Inc. is currently a Zacks Rank #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 143, which puts it in the bottom 44% 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.