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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 at $5.86 in the latest trading session, marking a +0.6% move from the prior day. The stock lagged the S&P 500's daily gain of 1.33%. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq gained 2.94%.
Coming into today, shares of the company had gained 7.58% in the past month. In that same time, the Business Services sector gained 1.88%, while the S&P 500 gained 6.11%.
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. The company is expected to report EPS of -$0.08, up 42.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $441.7 million, up 33.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.20 per share and revenue of $1.97 billion, which would represent changes of +50% and +25.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 6.59% higher. SoFi Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% 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.
To follow SOFI in the coming trading sessions, be sure to utilize 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 at $5.86 in the latest trading session, marking a +0.6% move from the prior day. The stock lagged the S&P 500's daily gain of 1.33%. At the same time, the Dow added 1.14%, and the tech-heavy Nasdaq gained 2.94%.
Coming into today, shares of the company had gained 7.58% in the past month. In that same time, the Business Services sector gained 1.88%, while the S&P 500 gained 6.11%.
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. The company is expected to report EPS of -$0.08, up 42.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $441.7 million, up 33.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.20 per share and revenue of $1.97 billion, which would represent changes of +50% and +25.26%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 6.59% higher. SoFi Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% 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.
To follow SOFI in the coming trading sessions, be sure to utilize Zacks.com.