SoFi Technologies (NASDAQ:SOFI – Get Free Report) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.04 for the period, compared to the consensus EPS estimate of $0.03. The company issued revenue guidance of $625-645 million, compared to the consensus revenue estimate of $610.86 million. SoFi Technologies also updated its FY 2024 guidance to 0.090-0.100 EPS.
Analyst Ratings Changes
A number of brokerages have recently issued reports on SOFI. Keefe, Bruyette & Woods cut their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a market perform rating for the company in a report on Tuesday, July 9th. Needham & Company LLC restated a buy rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday. Citigroup started coverage on shares of SoFi Technologies in a report on Monday, April 8th. They issued a buy rating and a $11.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on SoFi Technologies from $12.00 to $11.00 and set a hold rating for the company in a report on Tuesday, April 30th. Finally, Barclays dropped their price objective 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $9.44.
View Our Latest Report on SOFI
SoFi Technologies Price Performance
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. On average, equities research analysts expect that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.
Insider Buying and Selling at SoFi Technologies
In related news, CEO Anthony Noto purchased 28,775 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the acquisition, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Noto bought 28,775 shares of the stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 88,390 shares of company stock worth $597,569. 2.60% of the stock is owned by insiders.
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.
See Also
- Five stocks we like better than SoFi Technologies
- What is Put Option Volume?
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- P/E Ratio Calculation: How to Assess Stocks
- 5 Aggressive Growth Stocks for Long-Term Investors
Receive News & Ratings for SoFi Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SoFi Technologies and related companies with MarketBeat.com's FREE daily email newsletter.