SoFi Technologies (SOFI) to Release Quarterly Earnings on Tuesday

SoFi Technologies (NASDAQ:SOFI) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.04 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. SoFi Technologies’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS. 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

SoFi Technologies stock opened at $10.40 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The company has a market capitalization of $11.00 billion, a PE ratio of -33.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. SoFi Technologies has a one year low of $6.01 and a one year high of $10.54. The business has a 50 day simple moving average of $7.99 and a 200 day simple moving average of $7.35.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,328 shares of company stock worth $808,246. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays cut their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.25.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.