FY2024 EPS Estimates for SoFi Technologies Lifted by Wedbush

SoFi Technologies, Inc. (NASDAQ:SOFI) – Wedbush raised their FY2024 earnings per share estimates for SoFi Technologies in a report released on Tuesday, October 29th. Wedbush analyst D. Chiaverini now expects that the company will post earnings of $0.12 per share for the year, up from their prior estimate of $0.09. The consensus estimate for SoFi Technologies’ current full-year earnings is $0.10 per share. Wedbush also issued estimates for SoFi Technologies’ Q4 2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.07 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.10 EPS, FY2025 earnings at $0.35 EPS, Q1 2026 earnings at $0.11 EPS, Q2 2026 earnings at $0.11 EPS, Q3 2026 earnings at $0.11 EPS and FY2026 earnings at $0.45 EPS.

SOFI has been the subject of several other research reports. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays upped their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.71.

SoFi Technologies Stock Up 7.2 %

Shares of SoFi Technologies stock opened at $11.22 on Thursday. The company has a 50-day simple moving average of $8.52 and a two-hundred day simple moving average of $7.51. The stock has a market capitalization of $11.96 billion, a PE ratio of 112.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.70. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $11.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. SoFi Technologies’s quarterly revenue was up 29.8% compared to the same quarter last year.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently modified their holdings of the company. Stratos Wealth Advisors LLC raised its position in shares of SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the period. NBC Securities Inc. raised its holdings in SoFi Technologies by 12.7% during the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after acquiring an additional 1,081 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of SoFi Technologies by 11.4% in the third quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after acquiring an additional 1,226 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. Finally, Pegasus Asset Management Inc. raised its stake in SoFi Technologies by 1.4% during the 3rd quarter. Pegasus Asset Management Inc. now owns 112,951 shares of the company’s stock valued at $888,000 after purchasing an additional 1,607 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,636 shares of company stock worth $904,677. Company insiders own 2.60% 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.