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SoFi Technologies, Inc. (SOFI) Beats Stock Market Upswing: What Investors Need to Know
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In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $7.64, marking a +0.99% move from the previous day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 1.68%.
The company's stock has climbed by 2.44% in the past month, exceeding the Business Services sector's loss of 1.98% and the S&P 500's gain of 0.8%.
Market participants will be closely following the financial results of SoFi Technologies, Inc. in its upcoming release. The company plans to announce its earnings on April 29, 2024. The company is expected to report EPS of $0.01, up 120% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $566.9 million, indicating a 23.2% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.08 per share and a revenue of $2.38 billion, signifying shifts of +122.22% and +14.76%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an 8.32% increase. SoFi Technologies, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, SoFi Technologies, Inc. currently has a Forward P/E ratio of 93.76. This signifies a premium in comparison to the average Forward P/E of 24.74 for its industry.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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SoFi Technologies, Inc. (SOFI) Beats Stock Market Upswing: What Investors Need to Know
In the latest trading session, SoFi Technologies, Inc. (SOFI - Free Report) closed at $7.64, marking a +0.99% move from the previous day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 1.68%.
The company's stock has climbed by 2.44% in the past month, exceeding the Business Services sector's loss of 1.98% and the S&P 500's gain of 0.8%.
Market participants will be closely following the financial results of SoFi Technologies, Inc. in its upcoming release. The company plans to announce its earnings on April 29, 2024. The company is expected to report EPS of $0.01, up 120% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $566.9 million, indicating a 23.2% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.08 per share and a revenue of $2.38 billion, signifying shifts of +122.22% and +14.76%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an 8.32% increase. SoFi Technologies, Inc. is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, SoFi Technologies, Inc. currently has a Forward P/E ratio of 93.76. This signifies a premium in comparison to the average Forward P/E of 24.74 for its industry.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.