SoFi Technologies (NASDAQ:SOFI – Get Free Report) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.040-0.040 for the period, compared to the consensus earnings per share estimate of 0.030. The company issued revenue guidance of $625.0 million-$645.0 million, compared to the consensus revenue estimate of $610.9 million. SoFi Technologies also updated its FY 2024 guidance to 0.090-0.100 EPS.
SoFi Technologies Stock Performance
NASDAQ:SOFI traded down $0.02 during trading hours on Tuesday, hitting $7.31. 70,810,444 shares of the company were exchanged, compared to its average volume of 46,861,301. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of -23.61, a PEG ratio of 1.72 and a beta of 1.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The company’s 50 day moving average price is $6.86 and its 200-day moving average price is $7.36. SoFi Technologies has a 52-week low of $6.15 and a 52-week high of $11.70.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period last year, the company earned ($0.05) earnings per share. SoFi Technologies’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, research analysts forecast that SoFi Technologies will post 0.08 earnings per share for the current year.
Wall Street Analyst Weigh In
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Insider Buying and Selling at SoFi Technologies
In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Noto purchased 28,900 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the transaction, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The disclosure for this purchase can be found here. Insiders have purchased 88,390 shares of company stock worth $597,569 in the last ninety days. 2.60% of the stock is owned by insiders.
About SoFi Technologies
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.
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