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Is SoFi Technologies (SOFI) Stock Outpacing Its Business Services Peers This Year?
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Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has SoFi Technologies, Inc. (SOFI - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
SoFi Technologies, Inc. is one of 317 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SOFI's full-year earnings has moved 9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SOFI has moved about 77.2% on a year-to-date basis. At the same time, Business Services stocks have gained an average of 6.9%. As we can see, SoFi Technologies, Inc. is performing better than its sector in the calendar year.
Another stock in the Business Services sector, Trane Technologies (TT - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 26.8%.
Over the past three months, Trane Technologies' consensus EPS estimate for the current year has increased 1.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, SoFi Technologies, Inc. belongs to the Technology Services industry, which includes 177 individual stocks and currently sits at #90 in the Zacks Industry Rank. This group has gained an average of 24.2% so far this year, so SOFI is performing better in this area. Trane Technologies is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track SoFi Technologies, Inc. and Trane Technologies. These stocks will be looking to continue their solid performance.
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Is SoFi Technologies (SOFI) Stock Outpacing Its Business Services Peers This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Has SoFi Technologies, Inc. (SOFI - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
SoFi Technologies, Inc. is one of 317 companies in the Business Services group. The Business Services group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SOFI's full-year earnings has moved 9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SOFI has moved about 77.2% on a year-to-date basis. At the same time, Business Services stocks have gained an average of 6.9%. As we can see, SoFi Technologies, Inc. is performing better than its sector in the calendar year.
Another stock in the Business Services sector, Trane Technologies (TT - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 26.8%.
Over the past three months, Trane Technologies' consensus EPS estimate for the current year has increased 1.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, SoFi Technologies, Inc. belongs to the Technology Services industry, which includes 177 individual stocks and currently sits at #90 in the Zacks Industry Rank. This group has gained an average of 24.2% so far this year, so SOFI is performing better in this area. Trane Technologies is also part of the same industry.
Investors with an interest in Business Services stocks should continue to track SoFi Technologies, Inc. and Trane Technologies. These stocks will be looking to continue their solid performance.