Q2 2024 EPS Estimates for SoFi Technologies, Inc. (NASDAQ:SOFI) Increased by Analyst

SoFi Technologies, Inc. (NASDAQ:SOFI) – Investment analysts at Wedbush boosted their Q2 2024 earnings per share (EPS) estimates for SoFi Technologies in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the company will post earnings of $0.03 per share for the quarter, up from their previous estimate of $0.02. Wedbush has a “Underperform” rating and a $3.00 price objective on the stock. The consensus estimate for SoFi Technologies’ current full-year earnings is $0.07 per share. Wedbush also issued estimates for SoFi Technologies’ Q3 2024 earnings at $0.03 EPS.

A number of other equities analysts have also recently weighed in on SOFI. Mizuho dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $6.50 price target (down previously from $7.50) on shares of SoFi Technologies in a research report on Wednesday, January 3rd. Jefferies Financial Group cut their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley reiterated an “underweight” rating and set a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on SoFi Technologies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $11.00 price target for the company. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.97.

SoFi Technologies Stock Up 2.2 %

SoFi Technologies stock opened at $7.36 on Thursday. The stock has a market capitalization of $7.19 billion, a price-to-earnings ratio of -19.37 and a beta of 1.80. SoFi Technologies has a 1-year low of $4.45 and a 1-year high of $11.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The business has a fifty day moving average price of $7.89 and a 200-day moving average price of $8.01.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The company had revenue of $615.40 million for the quarter, compared to the consensus estimate of $572.02 million. During the same period in the previous year, the firm posted ($0.05) EPS. SoFi Technologies’s revenue for the quarter was up 34.7% compared to the same quarter last year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $27,000. US Bancorp DE grew its holdings in SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after acquiring an additional 2,000 shares during the period. Westside Investment Management Inc. raised its position in shares of SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $36,000. Finally, Tortoise Investment Management LLC acquired a new position in shares of SoFi Technologies during the 4th quarter valued at $39,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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.