SoFi Technologies (SOFI) to Release Quarterly Earnings on Monday

SoFi Technologies (NASDAQ:SOFI) is expected to release its earnings data before the market opens on Monday, January 27th. Analysts expect SoFi Technologies to post earnings of $0.04 per share and revenue of $678,525.45 billion for the quarter. SoFi Technologies has set its FY 2024 guidance at 0.110-0.120 EPS and its FY24 guidance at $0.11-0.12 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. On average, analysts expect SoFi Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoFi Technologies Trading Down 0.6 %

SOFI opened at $17.92 on Friday. The stock has a 50-day moving average of $15.71 and a 200 day moving average of $11.05. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $18.42. The firm has a market cap of $19.45 billion, a P/E ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Citigroup boosted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC increased their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.71.

Insider Activity at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,008,870 shares of company stock worth $416,950,073. Company insiders own 2.60% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.