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SoFi Technologies, Inc. (SOFI) Stock Moves -0.18%: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed at $5.56 in the latest trading session, marking a -0.18% move from the prior day. This change was narrower than the S&P 500's 1.65% loss on the day. At the same time, the Dow lost 1.63%, and the tech-heavy Nasdaq lost 6.65%.
Heading into today, shares of the company had lost 13.24% over the past month, lagging the Business Services sector's loss of 1.97% and the S&P 500's gain of 0.3% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.09, up 35.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $434.67 million, up 31.58% from the prior-year quarter.
SOFI's full-year Zacks Consensus Estimates are calling for earnings of -$0.21 per share and revenue of $1.97 billion. These results would represent year-over-year changes of +47.5% and +25.39%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 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 has moved 1.45% higher. 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 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.