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SoFi Technologies, Inc. (SOFI) Declines More Than Market: Some Information for Investors

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SoFi Technologies, Inc. (SOFI - Free Report) closed the most recent trading day at $7.15, moving -0.69% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.58%. Meanwhile, the Dow experienced a drop of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.15%.

Coming into today, shares of the company had gained 4.05% in the past month. In that same time, the Business Services sector lost 4.36%, while the S&P 500 lost 1.09%.

The upcoming earnings release of SoFi Technologies, Inc. will be of great interest to investors. The company's earnings report is expected on April 29, 2024. The company's earnings per share (EPS) are projected to be $0.01, reflecting a 120% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $566.9 million, reflecting a 23.2% rise from the equivalent quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.08 per share and revenue of $2.4 billion. These totals would mark changes of +122.22% and +15.5%, respectively, from last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for SoFi Technologies, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.3% higher within the past month. SoFi Technologies, Inc. is currently a Zacks Rank #3 (Hold).

With respect to valuation, SoFi Technologies, Inc. is currently being traded at a Forward P/E ratio of 93.24. This indicates a premium in contrast to its industry's Forward P/E of 22.36.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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