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What Investors Need to Know
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.
Investing can be a lucrative way to grow your wealth, but it’s important to approach it with caution and knowledge. Here are some key things that investors need to know before diving into the world of investing:
1. Risk vs. Reward: Investing always involves some level of risk, and it’s important to understand that the potential for higher returns often comes with a greater level of risk. Consider your risk tolerance and investment goals before making any decisions.
2. Diversification: Diversifying your investment portfolio is crucial for reducing risk. By spreading your investments across different asset classes and industries, you can protect yourself from significant losses if one sector performs poorly.
3. Time Horizon: Your investment time horizon refers to how long you plan to hold onto your investments before needing the money. Generally, longer time horizons allow for more aggressive investment strategies, while shorter time horizons may require a more conservative approach.
4. Costs and Fees: Be aware of the costs associated with investing, including management fees, trading commissions, and expense ratios. These fees can eat into your returns over time, so it’s important to choose investments with low fees whenever possible.
5. Research and Due Diligence: Before investing in any particular asset or company, make sure to do your research and due diligence. Consider factors such as the company’s financial health, management team, competitive advantage, and growth potential.
6. Market Volatility: The stock market can be unpredictable, and prices can fluctuate significantly in a short period of time. It’s important to stay informed about market trends and economic indicators, but also to remain calm and avoid making impulsive decisions based on short-term fluctuations.
By keeping these key points in mind, investors can make more informed decisions and increase their chances of success in the world of investing. Remember to consult with a financial advisor or investment professional if you have any questions or concerns.
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