SoFi Technologies, Inc. (SOFI) closed at $12.40 in the latest trading session, marking a +0.08% move from the prior day. This change outpaced the S&P 500’s 1.9% loss on the day. Elsewhere, the Dow lost 1.43%, while the tech-heavy Nasdaq added 0.06%.
– Zacks
Prior to today’s trading, shares of the company had lost 5.35% over the past month. This has lagged the Business Services sector’s loss of 4.29% and the S&P 500’s loss of 3.39% in that time.
Investors will be hoping for strength from SoFi Technologies, Inc. as it approaches its next earnings release, which is expected to be March 1, 2022.
Investors might also notice recent changes to analyst estimates for SoFi Technologies, Inc.Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 26.61% lower. SoFi Technologies, Inc. currently has a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022?
From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.
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
To read this article on Zacks.com click here.