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SoFi Technologies, Inc. (SOFI) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $9.16, marking a -0.43% move from the previous day. This change lagged the S&P 500's daily gain of 0.85%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 5.61%.
Coming into today, shares of the company had lost 5.54% in the past month. In that same time, the Business Services sector gained 2.81%, while the S&P 500 gained 3.18%.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. This is expected to be July 31, 2023. The company is expected to report EPS of -$0.06, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $472.32 million, up 30.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $1.98 billion, which would represent changes of +57.5% and +25.66%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. 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.
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 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. The Zacks Consensus EPS estimate has moved 0.66% lower within the past month. SoFi Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $9.16, marking a -0.43% move from the previous day. This change lagged the S&P 500's daily gain of 0.85%. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 5.61%.
Coming into today, shares of the company had lost 5.54% in the past month. In that same time, the Business Services sector gained 2.81%, while the S&P 500 gained 3.18%.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. This is expected to be July 31, 2023. The company is expected to report EPS of -$0.06, up 50% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $472.32 million, up 30.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.17 per share and revenue of $1.98 billion, which would represent changes of +57.5% and +25.66%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. 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.
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 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. The Zacks Consensus EPS estimate has moved 0.66% lower within the past month. SoFi Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.