We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SoFi Technologies, Inc. (SOFI) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
SoFi Technologies, Inc. (SOFI - Free Report) closed at $8.05 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Prior to today's trading, shares of the company had lost 0.25% over the past month. This has lagged the Business Services sector's gain of 0.85% and the S&P 500's gain of 3.1% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.06 per share. This would mark year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $472.32 million, up 30.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $1.98 billion. These totals would mark changes of +57.5% and +25.66%, respectively, from last 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. 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. 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.
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. The Zacks Consensus EPS estimate has moved 8.43% higher within the past month. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
SoFi Technologies, Inc. (SOFI) Dips More Than Broader Markets: What You Should Know
SoFi Technologies, Inc. (SOFI - Free Report) closed at $8.05 in the latest trading session, marking a -0.62% move from the prior day. This change lagged the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Prior to today's trading, shares of the company had lost 0.25% over the past month. This has lagged the Business Services sector's gain of 0.85% and the S&P 500's gain of 3.1% in that time.
SoFi Technologies, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be July 31, 2023. In that report, analysts expect SoFi Technologies, Inc. to post earnings of -$0.06 per share. This would mark year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $472.32 million, up 30.29% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.17 per share and revenue of $1.98 billion. These totals would mark changes of +57.5% and +25.66%, respectively, from last 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. 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. 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.
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. The Zacks Consensus EPS estimate has moved 8.43% higher within the past month. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.