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SoFi Technologies (SOFI) Set to Announce Quarterly Earnings on Tuesday

Defense World · Oct 25, 2022 05:42

SoFi Technologies (NASDAQ:SOFI – Get Rating) will issue its quarterly earnings data before the market opens on Tuesday, November 1st. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. SoFi Technologies has set its FY 2022 guidance at EPS.Parties that wish to register for the company's conference call can do so using this link.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.12). The company had revenue of $362.53 million for the quarter, compared to analysts' expectations of $346.39 million. SoFi Technologies had a negative return on equity of 7.30% and a negative net margin of 27.19%. On average, analysts expect SoFi Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

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SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $5.17 on Tuesday. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -11.24 and a beta of 1.58. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.72. SoFi Technologies has a 1-year low of $4.77 and a 1-year high of $24.65. The stock's 50-day moving average is $5.68 and its 200 day moving average is $6.28.

Insider Activity at SoFi Technologies

In related news, major shareholder Group Corp Softbank sold 6,683,133 shares of SoFi Technologies stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $8.17, for a total transaction of $54,601,196.61. Following the sale, the insider now directly owns 83,216,977 shares in the company, valued at $679,882,702.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the company. US Bancorp DE boosted its holdings in SoFi Technologies by 197.0% in the first quarter. US Bancorp DE now owns 3,015 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in SoFi Technologies in the first quarter worth $36,000. American International Group Inc. bought a new stake in SoFi Technologies in the second quarter worth $44,000. Carolinas Wealth Consulting LLC bought a new stake in SoFi Technologies in the first quarter worth $76,000. Finally, Blair William & Co. IL bought a new stake in SoFi Technologies in the first quarter worth $98,000. 38.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Bank Of America (Bofa) raised SoFi Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $8.00 to $9.00 in a research note on Wednesday, September 14th. Seaport Res Ptn reaffirmed a "neutral" rating on shares of SoFi Technologies in a research note on Friday, September 9th. Bank of America raised SoFi Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $8.00 to $9.00 in a research note on Wednesday, September 14th. Mizuho lifted their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 3rd. Finally, Credit Suisse Group lifted their price target on SoFi Technologies from $8.00 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.36.

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.