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SoFi Technologies, Inc. (SOFI) Gains But Lags Market: What You Should Know
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SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $5.75, moving +0.17% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Prior to today's trading, shares of the company had lost 11.28% over the past month. This has lagged the Business Services sector's loss of 2.79% and the S&P 500's gain of 1.24% in that time.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. This is expected to be May 1, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.08 per share. This would mark year-over-year growth of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $440.28 million, up 33.28% from the year-ago period.
SOFI's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $1.97 billion. These results would represent year-over-year changes of +50% and +25.25%, respectively.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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 5.39% higher. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
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SoFi Technologies, Inc. (SOFI) Gains But Lags Market: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $5.75, moving +0.17% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.36%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 1.91%.
Prior to today's trading, shares of the company had lost 11.28% over the past month. This has lagged the Business Services sector's loss of 2.79% and the S&P 500's gain of 1.24% in that time.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. This is expected to be May 1, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.08 per share. This would mark year-over-year growth of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $440.28 million, up 33.28% from the year-ago period.
SOFI's full-year Zacks Consensus Estimates are calling for earnings of -$0.20 per share and revenue of $1.97 billion. These results would represent year-over-year changes of +50% and +25.25%, respectively.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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 5.39% higher. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.