SoFi Technologies (SOFI) Expected to Announce Earnings on Monday

SoFi Technologies (NASDAQ:SOFI - Get Free Report) is expected to announce its earnings results before the market opens on Monday, January 27th. Analysts expect the company to announce earnings of $0.04 per share and revenue of $678,525.45 billion for the quarter. SoFi Technologies has set its FY 2024 guidance at 0.110-0.120 EPS and its FY24 guidance at $0.11-0.12 EPS.Investors interested in registering for the company's conference call can do so using this link.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. On average, analysts expect SoFi Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoFi Technologies Price Performance

SOFI traded up $0.20 during midday trading on Monday, hitting $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 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 quick ratio of 0.18 and a current ratio of 0.49. The business has a fifty day moving average of $15.32 and a 200 day moving average of $10.69. The company has a market cap of $17.90 billion, a P/E ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares of the company's stock, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,590 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value 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. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,999,956 shares of company stock worth $416,793,365 over the last 90 days. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SOFI shares. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. Morgan Stanley upped their price target 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. William Blair began coverage on SoFi Technologies in a report on Wednesday, January 15th. They issued an "outperform" rating on the stock. Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Mizuho raised 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 given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.71.

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.