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SoFi Technologies, Inc. (SOFI) Registers a Bigger Fall Than the Market: Important Facts to Note
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SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $7.63, moving -1.8% from the previous trading session. This change lagged the S&P 500's 0.85% loss on the day. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
Shares of the company have depreciated by 6.61% over the course of the past month, underperforming the Business Services sector's loss of 3.96% and the S&P 500's loss of 3.02%.
The investment community will be closely monitoring the performance of SoFi Technologies, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2023. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 22.22%. At the same time, our most recent consensus estimate is projecting a revenue of $516.2 million, reflecting a 21.75% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.20 per share and a revenue of $2.02 billion, demonstrating changes of +50% and +28.54%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for SoFi Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.51% higher within the past month. SoFi Technologies, Inc. presently features 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 83, putting it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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SoFi Technologies, Inc. (SOFI) Registers a Bigger Fall Than the Market: Important Facts to Note
SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $7.63, moving -1.8% from the previous trading session. This change lagged the S&P 500's 0.85% loss on the day. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.96%.
Shares of the company have depreciated by 6.61% over the course of the past month, underperforming the Business Services sector's loss of 3.96% and the S&P 500's loss of 3.02%.
The investment community will be closely monitoring the performance of SoFi Technologies, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2023. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 22.22%. At the same time, our most recent consensus estimate is projecting a revenue of $516.2 million, reflecting a 21.75% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.20 per share and a revenue of $2.02 billion, demonstrating changes of +50% and +28.54%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for SoFi Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.51% higher within the past month. SoFi Technologies, Inc. presently features 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 83, putting it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.