Q2 2022 EPS Estimates for SoFi Technologies, Inc. Lifted by Jefferies Financial Group (NASDAQ:SOFI)
SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) – Investment analysts at Jefferies Financial Group raised their Q2 2022 earnings per share estimates for shares of SoFi Technologies in a research note issued on Wednesday, July 20th. Jefferies Financial Group analyst J. Hecht now expects that the company will earn ($0.12) per share for the quarter, up from their prior estimate of ($0.13). The consensus estimate for SoFi Technologies’ current full-year earnings is ($0.44) per share. Jefferies Financial Group also issued estimates for SoFi Technologies’ Q3 2022 earnings at ($0.09) EPS, Q4 2022 earnings at ($0.08) EPS, FY2022 earnings at ($0.43) EPS, Q1 2023 earnings at ($0.05) EPS and FY2023 earnings at ($0.17) EPS.
Several other analysts also recently weighed in on the company. Piper Sandler dropped their price objective on SoFi Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, June 29th. Credit Suisse Group dropped their price objective on SoFi Technologies from $15.50 to $9.50 in a research report on Wednesday, May 11th. Wedbush dropped their price objective on SoFi Technologies from $20.00 to $15.00 in a research report on Thursday, April 7th. Moffett Nathanson started coverage on SoFi Technologies in a research report on Tuesday, April 5th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Bank of America dropped their price objective on SoFi Technologies from $12.00 to $7.00 in a research report on Tuesday, May 10th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.73.
SoFi Technologies Price Performance
Shares of SOFI stock opened at $6.62 on Monday. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.94. SoFi Technologies has a twelve month low of $4.82 and a twelve month high of $24.65. The company has a market cap of $6.06 billion, a P/E ratio of -8.07 and a beta of 1.39. The business has a fifty day simple moving average of $6.39 and a 200 day simple moving average of $8.64.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The firm had revenue of $321.70 million during the quarter, compared to the consensus estimate of $283.99 million. SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. SoFi Technologies’s revenue was up 48.9% on a year-over-year basis.
Institutional Investors Weigh In On SoFi Technologies
Large investors have recently added to or reduced their stakes in the business. B & T Capital Management DBA Alpha Capital Management grew its stake in SoFi Technologies by 97.2% during the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 57,783 shares of the company’s stock worth $546,000 after purchasing an additional 28,484 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in SoFi Technologies by 53.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 36,984 shares of the company’s stock worth $350,000 after acquiring an additional 12,805 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in SoFi Technologies in the fourth quarter worth approximately $4,031,000. Schonfeld Strategic Advisors LLC boosted its holdings in SoFi Technologies by 288.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 772,100 shares of the company’s stock worth $12,206,000 after acquiring an additional 573,251 shares in the last quarter. Finally, Triumph Capital Management boosted its holdings in SoFi Technologies by 18.9% in the first quarter. Triumph Capital Management now owns 153,785 shares of the company’s stock worth $1,453,000 after acquiring an additional 24,469 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.
Insider Activity
In related news, CEO Anthony Noto purchased 13,500 shares of the firm’s stock in a transaction dated Thursday, May 19th. The stock was bought at an average price of $7.79 per share, with a total value of $105,165.00. Following the completion of the purchase, the chief executive officer now owns 3,212,839 shares in the company, valued at approximately $25,028,015.81. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Harvey M. Schwartz purchased 15,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was bought at an average price of $6.50 per share, with a total value of $97,500.00. Following the completion of the purchase, the director now owns 229,852 shares in the company, valued at approximately $1,494,038. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Noto bought 13,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were acquired at an average cost of $7.79 per share, with a total value of $105,165.00. Following the purchase, the chief executive officer now directly owns 3,212,839 shares of the company’s stock, valued at $25,028,015.81. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 257,753 shares of company stock valued at $1,561,711. Company insiders own 13.00% of the company’s stock.
SoFi Technologies Company Profile
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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