SoFi Technologies, Inc. (SOFI) Advances While Market Declines: Some Information for Investors

SoFi Technologies, Inc. (SOFI) closed the most recent trading day at $17.32, moving +1.29% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.44%. At the same time, the Dow lost 0.09%, and the tech-heavy Nasdaq lost 2.22%. Coming into today, shares of the company had gained 9.48% in the past month. In that same time, the Finance sector gained 3.16%, while the S&P 500 gained 0.08%. 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 $0.12, up 50% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.12 billion, indicating a 29.99% increase compared to the same quarter of the previous year. For the full year, the Zacks Consensus Estimates are projecting earnings of $0.6 per share and revenue of $4.66 billion, which would represent changes of +53.85% and +29.75%, respectively, from the prior year. Investors should also take note of any recent adjustments to analyst estimates 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 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.33% higher. SoFi Technologies, Inc. is currently a Zacks Rank #3 (Hold). Digging into valuation, SoFi Technologies, Inc. currently has a Forward P/E ratio of 28.72. This indicates a premium in contrast to its industry's Forward P/E of 11.03. The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 100, putting it in the top 41% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks