The most recent trading session ended with SoFi Technologies, Inc. (SOFI) standing at $15.40, reflecting a -1.47% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.43%. At the same time, the Dow lost 0.07%, and the tech-heavy Nasdaq lost 0.9%.
The company's stock has dropped by 1.76% in the past month, exceeding the Finance sector's loss of 5.69% and the S&P 500's loss of 1.98%.
The investment community will be paying close attention to the earnings performance of SoFi Technologies, Inc. in its upcoming release. On that day, SoFi Technologies, Inc. is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 100%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $663.04 million, up 11.58% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.12 per share and a revenue of $2.52 billion, representing changes of +133.33% and +21.43%, respectively, from the prior year.
Any recent changes to analyst estimates for SoFi Technologies, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, SoFi Technologies, Inc. boasts a Zacks Rank of #2 (Buy).
In the context of valuation, SoFi Technologies, Inc. is at present trading with a Forward P/E ratio of 131.99. This indicates a premium in contrast to its industry's Forward P/E of 12.1.
Also, we should mention that SOFI has a PEG ratio of 2.6. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Financial - Miscellaneous Services stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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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.
