Why the Market Dipped But SoFi Technologies, Inc. (SOFI) Gained Today

In the latest trading session, SoFi Technologies, Inc. (SOFI) closed at $10.99, marking a +0.55% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.03%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq appreciated by 0.56%.The company's stock has climbed by 40.85% in the past month, exceeding the Finance sector's loss of 5.08% and the S&P 500's gain of 1.39%.Investors will be eagerly watching for the performance of SoFi Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 29, 2024. The company's earnings per share (EPS) are projected to be $0.04, reflecting a 233.33% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $636.68 million, reflecting a 19.97% rise from the equivalent quarter last year.SOFI's full-year Zacks Consensus Estimates are calling for earnings of $0.10 per share and revenue of $2.47 billion. These results would represent year-over-year changes of +127.78% and +18.86%, respectively.Investors should also take note of any recent adjustments to analyst estimates for SoFi Technologies, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.54% increase. At present, SoFi Technologies, Inc. boasts a Zacks Rank of #3 (Hold).With respect to valuation, SoFi Technologies, Inc. is currently being traded at a Forward P/E ratio of 110.04. This valuation marks a premium compared to its industry's average Forward P/E of 11.75.Meanwhile, SOFI's PEG ratio is currently 2.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Financial - Miscellaneous Services industry held an average PEG ratio of 1.16.The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 154, this industry ranks in the bottom 39% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks