Q3 2024 EPS Estimates for SoFi Technologies, Inc. Lifted by Seaport Res Ptn (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) – Investment analysts at Seaport Res Ptn raised their Q3 2024 earnings per share estimates for SoFi Technologies in a report released on Wednesday, September 11th. Seaport Res Ptn analyst W. Ryan now expects that the company will post earnings of $0.04 per share for the quarter, up from their previous forecast of $0.02. The consensus estimate for SoFi Technologies’ current full-year earnings is $0.10 per share. Seaport Res Ptn also issued estimates for SoFi Technologies’ Q4 2024 earnings at $0.03 EPS.

Several other research analysts have also recently issued reports on SOFI. Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. BTIG Research started coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Finally, Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Trading Up 2.1 %

Shares of NASDAQ:SOFI opened at $7.46 on Friday. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $10.49. The stock’s 50 day moving average price is $7.17 and its 200 day moving average price is $7.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at approximately $2,906,704.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at approximately $2,906,704.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Sanctuary Advisors LLC bought a new stake in SoFi Technologies in the second quarter worth $731,000. EP Wealth Advisors LLC boosted its holdings in SoFi Technologies by 1.6% in the second quarter. EP Wealth Advisors LLC now owns 382,844 shares of the company’s stock worth $2,531,000 after purchasing an additional 6,122 shares in the last quarter. Quarry LP bought a new stake in SoFi Technologies in the second quarter worth $84,000. Second Line Capital LLC boosted its holdings in SoFi Technologies by 1.3% in the second quarter. Second Line Capital LLC now owns 244,446 shares of the company’s stock worth $1,616,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in SoFi Technologies by 64.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after purchasing an additional 115,316 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.