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SoFi Technologies, Inc. (SOFI) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $8.20, marking a -0.97% move from the previous day. This change lagged the S&P 500's 0.45% loss on the day. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 3.58%.
Heading into today, shares of the company had gained 53.05% over the past month, outpacing the Business Services sector's gain of 3.74% and the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from SoFi Technologies, Inc. as it approaches its next earnings release. The company is expected to report EPS of -$0.06, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $472.32 million, up 30.29% from the year-ago period.
SOFI's full-year Zacks Consensus Estimates are calling for earnings of -$0.16 per share and revenue of $1.97 billion. These results would represent year-over-year changes of +60% and +25.51%, respectively.
Investors should also note any 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 14.45% higher. SoFi Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SoFi Technologies, Inc. (SOFI) Dips More Than Broader Markets: What You Should Know
In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $8.20, marking a -0.97% move from the previous day. This change lagged the S&P 500's 0.45% loss on the day. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 3.58%.
Heading into today, shares of the company had gained 53.05% over the past month, outpacing the Business Services sector's gain of 3.74% and the S&P 500's gain of 5.01% in that time.
Investors will be hoping for strength from SoFi Technologies, Inc. as it approaches its next earnings release. The company is expected to report EPS of -$0.06, up 50% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $472.32 million, up 30.29% from the year-ago period.
SOFI's full-year Zacks Consensus Estimates are calling for earnings of -$0.16 per share and revenue of $1.97 billion. These results would represent year-over-year changes of +60% and +25.51%, respectively.
Investors should also note any 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 14.45% higher. SoFi Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.