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SoFi Technologies, Inc. (SOFI) Stock Jumps 12.0%: Will It Continue to Soar?

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SoFi Technologies, Inc. (SOFI - Free Report) shares soared 12% in the last trading session to close at $9.16. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 63% gain over the past four weeks.

The stock is benefitting from the company’s strong momentum in member, product and cross-buy adds, operating efficiency and broad product suite.

This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +41.7%. Revenues are expected to be $472.01 million, up 30.2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For SoFi Technologies, Inc., the consensus EPS estimate for the quarter has been revised 11.1% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SOFI going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

SoFi Technologies, Inc. belongs to the Zacks Technology Services industry. Another stock from the same industry, Aptiv PLC (APTV - Free Report) , closed the last trading session 2.3% higher at $100.27. Over the past month, APTV has returned 5.7%.

Aptiv PLC's consensus EPS estimate for the upcoming report has changed -0.8% over the past month to $0.97. Compared to the company's year-ago EPS, this represents a change of +340.9%. Aptiv PLC currently boasts a Zacks Rank of #3 (Hold).

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