Equities Analysts Set Expectations for SOFI FY2024 Earnings

SoFi Technologies, Inc. (NASDAQ:SOFI) – Equities research analysts at William Blair issued their FY2024 earnings per share (EPS) estimates for SoFi Technologies in a research note issued on Wednesday, January 15th. William Blair analyst A. Jeffrey anticipates that the company will post earnings of $0.12 per share for the year. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for SoFi Technologies’ current full-year earnings is $0.12 per share. William Blair also issued estimates for SoFi Technologies’ Q4 2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.09 EPS, Q4 2025 earnings at $0.09 EPS, FY2025 earnings at $0.29 EPS and FY2026 earnings at $0.46 EPS.

A number of other equities analysts have also issued reports on the company. Morgan Stanley raised their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. 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 note on Tuesday. Finally, Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.71.

SoFi Technologies Stock Up 1.2 %

Shares of NASDAQ:SOFI opened at $16.50 on Friday. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $17.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a market cap of $17.90 billion, a P/E ratio of 165.02, a P/E/G ratio of 0.96 and a beta of 1.78. The firm has a fifty day moving average price of $15.25 and a 200 day moving average price of $10.56.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’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) earnings per share.

Insider Buying and Selling

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly 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. Insiders have sold a total of 26,009,264 shares of company stock worth $416,889,795 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Victory Capital Management Inc. raised its position in shares of SoFi Technologies by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 127,342 shares of the company’s stock worth $842,000 after purchasing an additional 8,267 shares during the last quarter. Choreo LLC purchased a new position in SoFi Technologies during the second quarter worth $101,000. Dimensional Fund Advisors LP lifted its position in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of SoFi Technologies during the second quarter valued at $1,720,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of SoFi Technologies by 7.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company’s stock valued at $465,000 after acquiring an additional 4,661 shares during the last quarter. Hedge funds and other institutional investors own 38.43% 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.