SoFi Technologies, Inc. (SOFI) ended the recent trading session at $27.14, demonstrating a -1.02% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.1%. Elsewhere, the Dow saw an upswing of 0.57%, while the tech-heavy Nasdaq depreciated by 0.33%.
Coming into today, shares of the company had gained 20.53% in the past month. In that same time, the Finance sector gained 2.52%, while the S&P 500 gained 2.57%.
Market participants will be closely following the financial results of SoFi Technologies, Inc. in its upcoming release. The company is expected to report EPS of $0.08, up 60% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $883.14 million, indicating a 28.09% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.32 per share and revenue of $3.43 billion, which would represent changes of +113.33% and +31.73%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for SoFi Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.07% higher. As of now, SoFi Technologies, Inc. holds a Zacks Rank of #2 (Buy).
In terms of valuation, SoFi Technologies, Inc. is currently trading at a Forward P/E ratio of 86.15. For comparison, its industry has an average Forward P/E of 13.04, which means SoFi Technologies, Inc. is trading at a premium to the group.
Also, we should mention that SOFI has a PEG ratio of 3.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Financial - Miscellaneous Services industry held an average PEG ratio of 0.96.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 59, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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SoFi Technologies, Inc. (SOFI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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