SoFi Technologies, Inc. (SOFI) Gains As Market Dips: What You Should Know

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This story originally appeared on Zacks

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.

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