SoFi Technologies, Inc. (SOFI) Outperforms Market: Facts

With a change of 1.16% from the prior trading session, SoFi Technologies, Inc. (SOFI) ended the most recent trading day at $7.40. Compared to the S&P 500's 1.11% daily gain, this move was more substantial. In other news, the tech-heavy Nasdaq rose 1.24% while the Dow rose 0.8%.  

The company's stock fell 2.14 percent last month, falling short of both the Business Services sector's 1.94% decline and the S&P 500's 0.48% gain.  

When SoFi Technologies, Inc. reports its profits soon, analysts and investors will be watching closely to see how well the company did. April 29, 2024 is the scheduled date for the public release of the company's earnings report. Expected profits per share (EPS) for the quarter are $0.01, up 120% from the same period previous year. Our most recent projections show quarterly sales of $571.25 million, an increase of 24.14% compared to the same period last year.  

Zacks Consensus Estimates for the full year predict sales of $2.38 billion and earnings of $0.07 per share, representing changes of +14.89% and +119.44%, respectively, from the prior year.  

Furthermore, shareholders ought to closely monitor any changes in analyst projections for SoFi Technologies, Inc. Most of these updates are a reflection of how quickly short-term business trends can change. Therefore, analysts' optimism about the company's business operations and profit generation abilities is reflected in upward adjustments to estimates.  

Recent studies have shown a strong relationship between these estimate revisions and the momentum of share prices in the near future. In order to take advantage of this, we have developed the Zacks Rank, a one-of-a-kind methodology that provides a realistic ranking system by incorporating these variations in estimates.

The Zacks Rank methodology, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive history of outperformance, as confirmed by independent audits. Since 1988, companies rated #1 have produced an average yearly return of +25%. There has been a 0.28 percent increase in the Zacks Consensus EPS estimate over the last 30 days. Zacks Investment Research currently has SoFi Technologies, Inc. listed as a #2 (Buy).  

The Forward P/E ratio for SoFi Technologies, Inc. is 101.8 at the moment of trading. When compared to the Forward P/E of 24.3 for its industry, this suggests a premium. The Business Services category includes the Technology Services business. This sector is among the top 35 percent of all 250+ sectors according to the Zacks Industry Rank, which is 86 at the moment.  

View for more updates