SoFi Technologies, Inc. (NASDAQ:SOFI) Expected Fiscal 2022 Earnings of ($0.46) Per Share


SoFi Technologies, Inc. (NASDAQ: SOFIGet a rating) – Oppenheimer raised his fiscal year 2022 earnings estimates for SoFi Technologies in a report released Wednesday, August 3. Oppenheimer analyst D. Gabriele now expects the company to post earnings per share of ($0.46) for the year, up from his previous estimate of ($0.48). SoFi Technologies’ current annual earnings consensus estimate is ($0.44) per share. Oppenheimer also released estimates for SoFi Technologies’ fourth quarter 2022 earnings at ($0.09) EPS and full-year 2023 earnings at ($0.24) EPS.

Sofi Technologies (NASDAQ: SOFIGet a rating) last released its quarterly results on Tuesday, May 10. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.14). The company posted revenue of $321.70 million in the quarter, compared to $283.99 million expected by analysts. SoFi Technologies posted a negative net margin of 27.19% and a negative return on equity of 7.53%. The company’s quarterly revenue increased 48.9% year over year.

Several other research analysts have also recently published reports on SOFI. Piper Sandler cut her price target on SoFi Technologies shares from $10.00 to $8.00 and set an “overweight” rating for the company in a Wednesday, June 29 report. Mizuho raised its price target on SoFi Technologies shares from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America cut its target price on SoFi Technologies shares from $12.00 to $7.00 in a Tuesday, May 10 report. Credit Suisse Group raised its price target on SoFi Technologies shares from $8.00 to $8.50 and gave the company a “neutral” rating in a report on Wednesday. Finally, Citigroup cut its price target on SoFi Technologies shares from $17.00 to $11.00 in a Thursday, May 12 report. Five equity research analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.73.

SoFi Technologies is trading down 3.3%

NASDAQ SOFI opened at $7.96 on Friday. The company has a fifty-day simple moving average of $6.32 and a two-hundred-day simple moving average of $8.28. The stock has a market capitalization of $7.29 billion, a P/E ratio of -17.17 and a beta of 1.53. SoFi Technologies has a 12-month low of $4.82 and a 12-month high of $24.65. The company has a current ratio of 5.60, a quick ratio of 5.60 and a debt ratio of 0.94.

Hedge funds weigh on SoFi technologies

A number of institutional investors and hedge funds have recently bought and sold shares of SOFI. Riverwood Capital Management Ltd. bought a new position in SoFi Technologies in the first quarter for a value of approximately $207,873,000. DCM International VI Ltd. acquired a new stake in the shares of SoFi Technologies during the 4th quarter for a value of approximately $185,092,000. State Street Corp increased its stake in SoFi Technologies by 222.0% in the 4th quarter. State Street Corp now owns 5,929,036 shares of the company valued at $93,738,000 after purchasing an additional 4,087,917 shares during the period. Banco BTG Pactual SA acquired a new position in SoFi Technologies in the first quarter worth approximately $18,467,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in SoFi Technologies by 2,626.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440,932 shares of the company worth $13,616,000 after purchasing an additional 1,388,088 shares during the period. 56.45% of the shares are currently held by institutional investors and hedge funds.

Insider activity

In other SoFi Technologies news, Director Harvey M. Schwartz bought 15,000 shares in a trade that took place on Friday, May 13. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $97,500.00. Following completion of the transaction, the administrator now owns 229,852 shares of the company, valued at approximately $1,494,038. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. In other SoFi Technologies news, Director Harvey M. Schwartz purchased 15,000 shares in a trade that took place on Friday, May 13. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $97,500.00. Following completion of the transaction, the administrator now owns 229,852 shares of the company, valued at approximately $1,494,038. The acquisition was disclosed in a filing with the Securities & Exchange Commission, available at the SEC website. Also, CEO Antoine Noto bought 37,056 shares in a trade that took place on Tuesday, May 24. The shares were acquired at an average price of $6.72 per share, for a total transaction of $249,016.32. Following completion of the transaction, the CEO now directly owns 3,276,895 shares of the company, valued at approximately $22,020,734.40. Disclosure of this purchase can be found here. Insiders purchased a total of 257,753 shares of the company worth $1,561,711 over the past 90 days. 13.00% of the shares are currently held by insiders of the company.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow 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.

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Earnings history and estimates for SoFi Technologies (NASDAQ:SOFI)



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