FY2024 Earnings Forecast for SOFI Issued By William Blair

SoFi Technologies, Inc. (NASDAQ:SOFI) – Investment analysts at William Blair issued their FY2024 earnings estimates for shares of SoFi Technologies in a research note issued on Wednesday, January 15th. William Blair analyst A. Jeffrey forecasts that the company will earn $0.12 per share for the year. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for SoFi Technologies’ current full-year earnings is $0.12 per share. William Blair also issued estimates for SoFi Technologies’ Q4 2024 earnings at $0.04 EPS, Q1 2025 earnings at $0.05 EPS, Q2 2025 earnings at $0.06 EPS, Q3 2025 earnings at $0.09 EPS, Q4 2025 earnings at $0.09 EPS, FY2025 earnings at $0.29 EPS and FY2026 earnings at $0.46 EPS.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS.

Other equities analysts also recently issued reports about the company. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.71.

SoFi Technologies Trading Up 1.2 %

NASDAQ SOFI opened at $16.50 on Friday. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $17.19. The company has a 50 day moving average price of $15.25 and a 200 day moving average price of $10.56. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $17.90 billion, a PE ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78.

Insider Buying and Selling at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now directly owns 25,937 shares in the company, valued at $415,510.74. This trade represents a 66.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Large investors have recently made changes to their positions in the company. Yeomans Consulting Group Inc. acquired a new position in shares of SoFi Technologies during the fourth quarter worth $334,000. Key Client Fiduciary Advisors LLC acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $195,000. Burr Financial Services LLC purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $217,000. Evolution Wealth Advisors LLC acquired a new stake in shares of SoFi Technologies during the 4th quarter worth about $235,000. Finally, UMB Bank n.a. lifted its stake in SoFi Technologies by 30.1% during the fourth quarter. UMB Bank n.a. now owns 40,644 shares of the company’s stock worth $626,000 after purchasing an additional 9,407 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.