SoFi Technologies, Inc. Expected to Post Q1 2024 Earnings of $0.01 Per Share (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) – Wedbush issued their Q1 2024 EPS estimates for SoFi Technologies in a note issued to investors on Wednesday, November 23rd. Wedbush analyst D. Chiaverini anticipates that the company will post earnings per share of $0.01 for the quarter. Wedbush currently has a “Outperform” rating and a $6.00 target price on the stock. The consensus estimate for SoFi Technologies’ current full-year earnings is ($0.43) per share. Wedbush also issued estimates for SoFi Technologies’ Q3 2024 earnings at $0.05 EPS, FY2024 earnings at $0.15 EPS, FY2025 earnings at $0.35 EPS and FY2026 earnings at $0.50 EPS.

A number of other analysts have also issued reports on SOFI. Credit Suisse Group lifted their price objective on shares of SoFi Technologies from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Seaport Res Ptn reiterated a “neutral” rating on shares of SoFi Technologies in a research note on Friday, September 9th. The Goldman Sachs Group lowered their target price on shares of SoFi Technologies from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Wednesday, November 2nd. Bank Of America (Bofa) upgraded shares of SoFi Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $8.00 to $9.00 in a research note on Wednesday, September 14th. Finally, Morgan Stanley lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 2nd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.85.

SoFi Technologies Trading Up 0.4 %

SOFI opened at $4.66 on Thursday. The firm has a market capitalization of $4.32 billion, a P/E ratio of -9.32 and a beta of 1.57. The firm’s 50 day moving average is $5.30 and its 200-day moving average is $6.05. SoFi Technologies has a 52-week low of $4.53 and a 52-week high of $18.69. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.88.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SOFI. Steward Partners Investment Advisory LLC lifted its holdings in SoFi Technologies by 13.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 20,210 shares of the company’s stock worth $191,000 after purchasing an additional 2,332 shares during the period. DAVENPORT & Co LLC lifted its holdings in SoFi Technologies by 17.4% in the first quarter. DAVENPORT & Co LLC now owns 35,630 shares of the company’s stock worth $337,000 after purchasing an additional 5,290 shares during the period. National Asset Management Inc. lifted its holdings in SoFi Technologies by 19.6% in the first quarter. National Asset Management Inc. now owns 63,462 shares of the company’s stock worth $600,000 after purchasing an additional 10,417 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in SoFi Technologies by 6.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 337,930 shares of the company’s stock worth $3,193,000 after purchasing an additional 19,551 shares during the period. Finally, Arizona State Retirement System lifted its holdings in SoFi Technologies by 3.8% in the first quarter. Arizona State Retirement System now owns 145,998 shares of the company’s stock worth $1,380,000 after purchasing an additional 5,360 shares during the period. Institutional investors and hedge funds own 38.19% of the company’s stock.

About SoFi Technologies

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

See Also

Earnings History and Estimates for SoFi Technologies (NASDAQ:SOFI)

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