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SoFi Technologies, Inc. (SOFI) Registers a Bigger Fall Than the Market: Important Facts to Note
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The latest trading session saw SoFi Technologies, Inc. (SOFI - Free Report) ending at $9.87, denoting a -1.69% adjustment from its last day's close. This change lagged the S&P 500's 0.02% loss on the day. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
The company's stock has climbed by 23.8% in the past month, exceeding the Finance sector's loss of 3.12% and the S&P 500's gain of 3.77%.
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 29, 2024. The company is predicted to post an EPS of $0.04, indicating a 233.33% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $636.68 million, indicating a 19.97% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.10 per share and revenue of $2.47 billion. These totals would mark changes of +127.78% and +18.86%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SoFi Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.54% higher within the past month. SoFi Technologies, Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, SoFi Technologies, Inc. is currently trading at a Forward P/E ratio of 101.08. This represents a premium compared to its industry's average Forward P/E of 11.88.
One should further note that SOFI currently holds a PEG ratio of 1.98. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. SOFI's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SoFi Technologies, Inc. (SOFI) Registers a Bigger Fall Than the Market: Important Facts to Note
The latest trading session saw SoFi Technologies, Inc. (SOFI - Free Report) ending at $9.87, denoting a -1.69% adjustment from its last day's close. This change lagged the S&P 500's 0.02% loss on the day. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
The company's stock has climbed by 23.8% in the past month, exceeding the Finance sector's loss of 3.12% and the S&P 500's gain of 3.77%.
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 29, 2024. The company is predicted to post an EPS of $0.04, indicating a 233.33% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $636.68 million, indicating a 19.97% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.10 per share and revenue of $2.47 billion. These totals would mark changes of +127.78% and +18.86%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for SoFi Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.54% higher within the past month. SoFi Technologies, Inc. presently features a Zacks Rank of #3 (Hold).
In terms of valuation, SoFi Technologies, Inc. is currently trading at a Forward P/E ratio of 101.08. This represents a premium compared to its industry's average Forward P/E of 11.88.
One should further note that SOFI currently holds a PEG ratio of 1.98. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. SOFI's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.