SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) – Research analysts at Jefferies Financial Group cut their Q2 2022 earnings estimates for shares of SoFi Technologies in a note issued to investors on Tuesday, May 10th. Jefferies Financial Group analyst J. Hecht now forecasts that the company will post earnings of ($0.13) per share for the quarter, down from their prior estimate of ($0.11). Jefferies Financial Group also issued estimates for SoFi Technologies’ Q3 2022 earnings at ($0.10) EPS, Q4 2022 earnings at ($0.09) EPS, FY2022 earnings at ($0.46) EPS, Q1 2023 earnings at ($0.03) EPS and Q2 2023 earnings at ($0.05) EPS.
Several other research analysts also recently commented on SOFI. Rosenblatt Securities reduced their price objective on SoFi Technologies from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, February 23rd. Citigroup reduced their price objective on SoFi Technologies from $17.00 to $11.00 in a research note on Thursday. Credit Suisse Group cut their target price on SoFi Technologies from $15.50 to $9.50 in a research note on Wednesday. Moffett Nathanson began coverage on SoFi Technologies in a research note on Tuesday, April 5th. They issued a “buy” rating and a $13.00 target price for the company. Finally, Mizuho cut their target price on SoFi Technologies from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, April 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.58.
NASDAQ SOFI opened at $5.66 on Friday. The business has a fifty day moving average price of $8.05 and a 200 day moving average price of $12.94. SoFi Technologies has a one year low of $4.82 and a one year high of $24.95. The company has a debt-to-equity ratio of 0.90, a quick ratio of 22.93 and a current ratio of 22.93. The company has a market cap of $4.69 billion, a P/E ratio of -6.90 and a beta of 0.90.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). SoFi Technologies had a negative return on equity of 9.74% and a negative net margin of 36.32%. The firm had revenue of $321.70 million during the quarter, compared to the consensus estimate of $283.99 million. The firm’s quarterly revenue was up 48.9% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the stock. Mine & Arao Wealth Creation & Management LLC. boosted its holdings in SoFi Technologies by 40.0% during the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,960 shares of the company’s stock valued at $32,000 after acquiring an additional 560 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its holdings in SoFi Technologies by 119.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock valued at $31,000 after acquiring an additional 1,075 shares during the period. Amplius Wealth Advisors LLC purchased a new position in SoFi Technologies during the 4th quarter valued at about $31,000. Clearstead Advisors LLC boosted its holdings in SoFi Technologies by 250.0% during the 3rd quarter. Clearstead Advisors LLC now owns 2,240 shares of the company’s stock valued at $36,000 after acquiring an additional 1,600 shares during the period. Finally, TimeScale Financial Inc. boosted its holdings in SoFi Technologies by 81.5% during the 4th quarter. TimeScale Financial Inc. now owns 2,319 shares of the company’s stock valued at $37,000 after acquiring an additional 1,041 shares during the period. Institutional investors own 56.45% of the company’s stock.
In other news, CEO Anthony Noto bought 19,042 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average cost of $7.85 per share, for a total transaction of $149,479.70. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Micah Heavener sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $8.01, for a total value of $40,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 97,640 shares of company stock valued at $871,799. Company insiders own 35.10% of the company’s stock.
SoFi Technologies Company Profile (Get Rating)
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.
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