SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) – Equities research analysts at Oppenheimer raised their Q2 2022 earnings per share estimates for SoFi Technologies in a note issued to investors on Wednesday, May 11th. Oppenheimer analyst D. Gabriele now expects that the company will post earnings per share of ($0.12) for the quarter, up from their previous estimate of ($0.13). Oppenheimer has a “Outperform” rating and a $13.00 price target on the stock. Oppenheimer also issued estimates for SoFi Technologies’ Q3 2022 earnings at ($0.11) EPS, Q4 2022 earnings at ($0.10) EPS, FY2022 earnings at ($0.47) EPS and FY2023 earnings at ($0.27) EPS.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $321.70 million for 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% compared to the same quarter last year.
SOFI stock opened at $6.75 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.60 and a quick ratio of 22.93. The company has a 50 day moving average price of $7.90 and a 200 day moving average price of $12.65. SoFi Technologies has a fifty-two week low of $4.82 and a fifty-two week high of $24.95. The stock has a market capitalization of $5.59 billion, a PE ratio of -8.23 and a beta of 0.90.
A number of hedge funds and other institutional investors have recently made changes to their positions in SOFI. WASHINGTON TRUST Co acquired a new position in SoFi Technologies in the 1st quarter worth $26,000. US Bancorp DE boosted its stake in shares of SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after buying an additional 2,000 shares during the last quarter. Herold Advisors Inc. bought a new stake in shares of SoFi Technologies in the 1st quarter valued at about $29,000. SOA Wealth Advisors LLC. raised its holdings in shares of SoFi Technologies by 113.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 3,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,700 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in shares of SoFi Technologies by 119.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock valued at $31,000 after purchasing an additional 1,075 shares during the period. 56.45% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Anthony Noto acquired 19,042 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average price of $7.85 per share, for a total transaction of $149,479.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Micah Heavener sold 5,000 shares of the company’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $8.01, for a total transaction of $40,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 97,640 shares of company stock valued at $871,799. 35.10% of the stock is owned by corporate insiders.
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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