Sofi Technologies (NASDAQ: SOFI – Get a rating) will release its quarterly earnings data after the market closes on Tuesday, August 2. Analysts expect the company to report earnings of ($0.12) per share for the quarter. SoFi Technologies has set its fiscal year 2022 guidance to EPS and its second quarter 2022 guidance to EPS. Parties interested in participating in the company’s conference call can do so using this link.
Sofi Technologies (NASDAQ: SOFI – Get a rating) last released its quarterly earnings data 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 for the quarter, versus a consensus estimate of $283.99 million. SoFi Technologies has a negative net margin of 36.32% and a negative return on equity of 9.24%. The company’s quarterly revenue increased 48.9% year over year. 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
Shares of SOFI opened at $6.31 on Friday. The company has a market capitalization of $5.78 billion, a price-earnings ratio of -7.70 and a beta of 1.39. SoFi Technologies has a 12-month low of $4.82 and a 12-month high of $24.65. The company has a quick ratio of 5.60, a current ratio of 5.60 and a leverage ratio of 0.94. The company has a 50-day moving average of $6.30 and a 200-day moving average of $8.41.
Insider Buying and Selling at SoFi Technologies
In other SoFi Technologies news, EVP Michelle Gil sold 50,000 shares of SoFi Technologies in a trade on Tuesday, June 14. The shares were sold at an average price of $5.48, for a total value of $274,000.00. Following the completion of the transaction, the executive vice president now owns 1,831,223 shares of the company, valued at $10,035,102.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. In other news, EVP Michelle Gil sold 50,000 shares of the company in a transaction dated Tuesday, June 14. The shares were sold at an average price of $5.48, for a total transaction of $274,000.00. Following the completion of the sale, the executive vice president now owns 1,831,223 shares of the company, valued at $10,035,102.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, director Harvey M. Schwartz bought 15,000 shares of the company in a trade dated Friday, May 13. The shares were purchased at an average cost of $6.50 per share, with a total value of $97,500.00. Following the purchase, the director now directly owns 229,852 shares of the company, valued at $1,494,038. Disclosure of this purchase can be found here. During the last quarter, insiders purchased 257,753 shares of the company valued at $1,561,711. Company insiders hold 13.00% of the company’s shares.
Institutional trading of SoFi technologies
A number of institutional investors and hedge funds have recently changed their holdings in SOFI. State Street Corp increased its position in SoFi Technologies by 11.6% during the first quarter. State Street Corp now owns 6,618,860 shares of the company worth $62,548,000 after acquiring an additional 689,824 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in SoFi Technologies by 1.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,215,095 shares of the company valued at $30,383,000 after purchasing an additional 59,447 shares in the last quarter. Northern Trust Corp increased its stake in SoFi Technologies by 9.1% in the first quarter. Northern Trust Corp now owns 2,071,419 shares of the company valued at $19,574,000 after buying an additional 172,275 shares in the last quarter. Bank of New York Mellon Corp increased its stake in SoFi Technologies by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 1,266,962 shares of the company valued at $11,973,000 after buying 22,288 additional shares in the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in SoFi Technologies shares by 1,528.8% in Q1. Ensign Peak Advisors Inc now owns 1,163,386 shares of the company valued at $10,994,000 after acquiring an additional 1,091,961 shares during the period. Hedge funds and other institutional investors hold 56.45% of the company’s shares.
Analysts set new price targets
Several equity research analysts have looked at SOFI shares. Bank of America lowered its target price on SoFi Technologies shares from $12.00 to $7.00 in a Tuesday, May 10 research note. Moffett Nathanson began covering SoFi Technologies shares in a research note on Tuesday, April 5. They set a “buy” rating and a price target of $13.00 for the company. Oppenheimer lowered his price target on SoFi Technologies shares from $18.00 to $13.00 and set an “outperform” rating for the company in a Thursday, April 7 research note. Wedbush lowered its price target on SoFi Technologies shares from $20.00 to $15.00 in a Thursday, April 7 research note. Finally, Piper Sandler lowered 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 research note. Five investment analysts gave the stock a hold rating and eight gave the company a buy rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.73.
About SoFi Technologies
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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