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SoFi Technologies, Inc. (SOFI) Gains But Lags Market: What You Should Know

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In the latest trading session, SoFi Technologies, Inc. (SOFI) closed at $6.31, marking a +0.16% move from the previous day. The stock lagged the S&P 500's daily gain of 1.42%. At the same time, the Dow added 0.97%, and the tech-heavy Nasdaq lost 0.07%.

Prior to today's trading, shares of the company had gained 19.55% over the past month. This has outpaced the Business Services sector's gain of 9.42% and the S&P 500's gain of 6.69% 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 August 2, 2022. On that day, SoFi Technologies, Inc. is projected to report earnings of -$0.12 per share, which would represent year-over-year growth of 75%. Meanwhile, our latest consensus estimate is calling for revenue of $346.39 million, up 49.78% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.44 per share and revenue of $1.51 billion, which would represent changes of +56% and +53.25%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for SoFi Technologies, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.75% higher within the past month. SoFi Technologies, Inc. currently has a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 127, putting it in the top 50% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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 Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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