FY2024 Earnings Forecast for SOFI Issued By William Blair

SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) - Stock analysts at William Blair issued their FY2024 EPS estimates for shares of SoFi Technologies in a report issued on Wednesday, January 15th. William Blair analyst A. Jeffrey forecasts that the company will post earnings per share of $0.12 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.

Other equities analysts have also issued research reports about the company. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Bank of America reissued an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $11.71.

SoFi Technologies Price Performance

NASDAQ:SOFI traded up $0.20 during mid-day trading on Friday, reaching $16.50. The stock had a trading volume of 40,249,333 shares, compared to its average volume of 36,048,924. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $17.19. The stock has a market capitalization of $17.90 billion, a PE ratio of 165.02, a P/E/G ratio of 0.96 and a beta of 1.78. 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 50-day simple moving average of $15.32 and a two-hundred day simple moving average of $10.63.

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

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted 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 valued at $842,000 after acquiring an additional 8,267 shares during the period. Choreo LLC acquired a new position in shares of SoFi Technologies during the second quarter valued at about $101,000. Dimensional Fund Advisors LP boosted its position in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $1,720,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of SoFi Technologies by 7.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company's stock valued at $465,000 after buying an additional 4,661 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies 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 completion of the transaction, the chief technology officer now directly owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 over the last ninety days. Insiders own 2.60% 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.