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SoFi Technologies, Inc. (SOFI) Beats Stock Market Upswing: What Investors Need to Know
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The latest trading session saw SoFi Technologies, Inc. (SOFI - Free Report) ending at $7.44, denoting a +1.09% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.2%.
The company's stock has dropped by 9.25% in the past month, falling short of the Business Services sector's gain of 5.27% and the S&P 500's gain of 5.11%.
Market participants will be closely following the financial results of SoFi Technologies, Inc. in its upcoming release. The company is expected to report EPS of $0.01, up 120% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $574.75 million, indicating a 24.9% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.07 per share and revenue of $2.42 billion, indicating changes of +119.44% and +16.59%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Currently, SoFi Technologies, Inc. is carrying a Zacks Rank of #3 (Hold).
Investors should also note SoFi Technologies, Inc.'s current valuation metrics, including its Forward P/E ratio of 106.08. This signifies a premium in comparison to the average Forward P/E of 25.41 for its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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SoFi Technologies, Inc. (SOFI) Beats Stock Market Upswing: What Investors Need to Know
The latest trading session saw SoFi Technologies, Inc. (SOFI - Free Report) ending at $7.44, denoting a +1.09% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.32%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.2%.
The company's stock has dropped by 9.25% in the past month, falling short of the Business Services sector's gain of 5.27% and the S&P 500's gain of 5.11%.
Market participants will be closely following the financial results of SoFi Technologies, Inc. in its upcoming release. The company is expected to report EPS of $0.01, up 120% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $574.75 million, indicating a 24.9% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.07 per share and revenue of $2.42 billion, indicating changes of +119.44% and +16.59%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Currently, SoFi Technologies, Inc. is carrying a Zacks Rank of #3 (Hold).
Investors should also note SoFi Technologies, Inc.'s current valuation metrics, including its Forward P/E ratio of 106.08. This signifies a premium in comparison to the average Forward P/E of 25.41 for its industry.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.