Source: shutterstock.com/Michael Vi
SoFi Technologies (NASDAQ:SOFI) stock got off to a solid start on Monday, although shares have dipped slightly this afternoon. The company is poised to deliver earnings results for the third quarter, with investor optimism brewing. Fundamentally, segments of the broader financial services industry have been delivering surprisingly robust performances. However, SOFI stock generally remains a challenged investment.
According to Zacks Equity Research, SoFi should beat the consensus earnings estimate for Q3, which calls for a loss of 10 cents per share. Reaching this level would represent a year-over-year (YOY) change of -100%, according to the research firm. Analysts also anticipate revenue to come in at $391.84 million, a gain of more than 41% YOY.
Notably, Zacks mentions that the consensus EPS estimate for SOFI stock has “remained unchanged over the last 30 days.” Zacks also reported that, heading into the session last Friday, shares had “gained 10.54% over the past month, outpacing the Business Services sector’s gain of 4.41% and the S&P 500’s gain of 4.56% in that time.”
Outside fundamental catalysts may bolster SOFI stock as well. As InvestorPlace’s Eddie Pan reports, the company “received a major boost” when President Joe Biden and his administration said the federal student loan moratorium would end on Dec. 31. Pan also notes that Bank of America analyst Mihir Bhatia believes resumed payments “should…
