Yahoo Finance Is SoFi Technologies (SOFI) Outperforming Other Business Services Stocks This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Has SoFi Technologies, Inc. (SOFI) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question.
SoFi Technologies, Inc. is one of 335 individual stocks in the Business Services sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SoFi Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for SOFI's full-year earnings has moved 17.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, SOFI has returned 6.2% so far this year. Meanwhile, the Business Services sector has returned an average of 0.2% on a year-to-date basis. This means that SoFi Technologies, Inc. is performing better than its sector in terms of year-to-date returns.
One other Business Services stock that has outperformed the sector so far this year is S&P Global (SPGI). The stock is up 3.8% year-to-date.
In S&P Global's case, the consensus EPS estimate for the current year increased 0.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, SoFi Technologies, Inc. belongs to the Technology Services industry, a group that includes 195 individual stocks and currently sits at #122 in the Zacks Industry Rank. On average, this group has lost an average of 1.7% so far this year, meaning that SOFI is performing better in terms of year-to-date returns.
On the other hand, S&P Global belongs to the Business - Information Services industry. This 11-stock industry is currently ranked #83. The industry has moved +2.7% year to date.
Investors interested in the Business Services sector may want to keep a close eye on SoFi Technologies, Inc. and S&P Global as they attempt to continue their solid performance.
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SoFi Technologies, Inc. (SOFI) : Free Stock Analysis Report
S&P Global Inc. (SPGI) : Free Stock Analysis Report
