FY2024 Earnings Forecast for SOFI Issued By William Blair

SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) - Equities research analysts at William Blair issued their FY2024 earnings per share estimates for SoFi Technologies in a research report issued on Wednesday, January 15th. William Blair analyst A. Jeffrey anticipates that the company will earn $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 also recently issued reports on the company. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Finally, Mizuho upped their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Four 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.71.

SoFi Technologies Stock Performance

SOFI stock traded up $0.20 on Friday, hitting $16.50. The company had a trading volume of 40,249,333 shares, compared to its average volume of 40,023,070. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $17.19. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 165.02, a P/E/G ratio of 0.96 and a beta of 1.78. The stock's 50-day simple moving average is $15.25 and its 200 day simple moving average is $10.56.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same quarter in the prior year, the business earned ($0.03) EPS. The business's revenue for the quarter was up 29.8% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in SoFi Technologies in the third quarter worth $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies in the 3rd quarter worth about $28,000. FNY Investment Advisers LLC raised its position in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after buying an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies in the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies in the third quarter worth about $47,000. 38.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares of the company's stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock valued at $416,889,795 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

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.