SoFi Technologies, Inc. (SOFI) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, SoFi Technologies, Inc. (SOFI) closed at $13.46, marking a -1.46% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.01%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 0.32%.
Heading into today, shares of the company had gained 7.31% over the past month, outpacing the Finance sector's gain of 3.54% and the S&P 500's gain of 5.2% in that time.
Investors will be eagerly watching for the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of $0.06, up 500% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $795.72 million, indicating a 33.29% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.27 per share and revenue of $3.27 billion, which would represent changes of +80% and +25.41%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for SoFi Technologies, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 0.81% lower within the past month. SoFi Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, SoFi Technologies, Inc. is holding a Forward P/E ratio of 49.96. For comparison, its industry has an average Forward P/E of 10.36, which means SoFi Technologies, Inc. is trading at a premium to the group.
We can also see that SOFI currently has a PEG ratio of 1.87. 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 0.94 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 138, which puts it in the bottom 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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