SoFi Technologies, Inc. (SOFI) Declines More Than Market: Some Information for Investors

SoFi Technologies, Inc. (SOFI) ended the recent trading session at $7.38, demonstrating a -1.34% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.19%. Meanwhile, the Dow experienced a rise of 0.1%, and the technology-dominated Nasdaq saw a decrease of 0.54%.

Prior to today's trading, shares of the company had lost 6.73% over the past month. This has lagged the Business Services sector's gain of 2.68% and the S&P 500's gain of 3.18% in that time.

The upcoming earnings release of SoFi Technologies, Inc. will be of great interest to investors. The company is forecasted to report an EPS of $0.01, showcasing a 120% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $572.65 million, showing a 24.45% escalation compared to the year-ago quarter.

SOFI's full-year Zacks Consensus Estimates are calling for earnings of $0.07 per share and revenue of $2.42 billion. These results would represent year-over-year changes of +119.44% and +16.47%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for SoFi Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, there's been a 7.12% rise in the Zacks Consensus EPS estimate. SoFi Technologies, Inc. is currently a Zacks Rank #3 (Hold).

Looking at valuation, SoFi Technologies, Inc. is presently trading at a Forward P/E ratio of 100.48. This denotes a premium relative to the industry's average Forward P/E of 25.78.

The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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