SoFi Technologies, Inc. (SOFI) Dips More Than Broader Markets: What You Should Know
SoFi Technologies, Inc. (SOFI) closed the most recent trading day at $5.79, moving -1.36% from the previous trading session. This move lagged the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.31%, while the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the company had gained 27.33% over the past month. This has outpaced the Business Services sector's gain of 8.22% and the S&P 500's gain of 4.64% in that time.
Wall Street will be looking for positivity from SoFi Technologies, Inc. as it approaches its next earnings report date. This is expected to be January 30, 2023. The company is expected to report EPS of -$0.09, up 40% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $425.7 million, up 49.05% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SoFi Technologies, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 5.75% lower within the past month. SoFi Technologies, Inc. is holding a Zacks Rank of #4 (Sell) right now.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 142, which puts it in the bottom 44% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report
