SoFi Technologies (NASDAQ:SOFI – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.09-0.10 for the period, compared to the consensus EPS estimate of $0.09. The company issued revenue guidance of $2.43-2.47 billion, compared to the consensus revenue estimate of $2.40 billion. SoFi Technologies also updated its FY 2024 guidance to 0.090-0.100 EPS.
SoFi Technologies Stock Down 4.5 %
Shares of SoFi Technologies stock opened at $6.84 on Friday. The company’s fifty day simple moving average is $6.89 and its two-hundred day simple moving average is $7.36. SoFi Technologies has a 12-month low of $6.15 and a 12-month high of $10.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The firm had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The business’s revenue was up 20.2% compared to the same quarter last year. As a group, analysts expect that SoFi Technologies will post 0.09 EPS for the current year.
Wall Street Analyst Weigh In
Read Our Latest Analysis on SOFI
Insider Buying and Selling
In other news, CEO Anthony Noto bought 28,900 shares of the stock in a transaction on Thursday, May 23rd. The shares were bought at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the acquisition, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony Noto bought 28,900 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $6.92 per share, with a total value of $199,988.00. Following the acquisition, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.
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.
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