FY2024 EPS Estimates for SoFi Technologies, Inc. Raised by Seaport Res Ptn (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFI) – Analysts at Seaport Res Ptn raised their FY2024 earnings estimates for SoFi Technologies in a report released on Wednesday, September 11th. Seaport Res Ptn analyst W. Ryan now anticipates that the company will earn $0.10 per share for the year, up from their prior forecast of $0.08. The consensus estimate for SoFi Technologies’ current full-year earnings is $0.10 per share. Seaport Res Ptn also issued estimates for SoFi Technologies’ FY2025 earnings at $0.27 EPS.

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

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

SoFi Technologies Trading Up 3.8 %

Shares of SOFI opened at $7.74 on Thursday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average is $7.19 and its two-hundred day moving average is $7.18. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $10.49. The stock has a market cap of $8.25 billion, a PE ratio of -24.97, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70.

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 approximately $830,594.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. Axxcess Wealth Management LLC acquired a new position in SoFi Technologies during the first quarter worth about $185,000. Wells Fargo & Company MN boosted its position in SoFi Technologies by 20.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock worth $28,398,000 after acquiring an additional 493,707 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in SoFi Technologies by 3.7% during the second quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock worth $558,000 after acquiring an additional 3,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after acquiring an additional 6,870,610 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in SoFi Technologies in the 4th quarter valued at $38,595,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.