SoFi Technologies (SOFI) Set to Announce Earnings on Tuesday

SoFi Technologies (NASDAQ:SOFI) will release its earnings data before the market opens on Tuesday, July 30th. Analysts expect SoFi Technologies to post earnings of $0.00 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. SoFi Technologies’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) earnings per share. On average, analysts expect SoFi Technologies to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $7.41 on Monday. The company has a market capitalization of $7.83 billion, a P/E ratio of -23.90, a P/E/G ratio of 1.72 and a beta of 1.70. The business’s 50 day moving average is $6.86 and its two-hundred day moving average is $7.36. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. SoFi Technologies has a 12-month low of $6.15 and a 12-month high of $11.70.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Anthony Noto purchased 28,775 shares of the stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $6.90 per share, with a total value of $198,547.50. Following the completion of the transaction, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The disclosure for this purchase can be found here. Insiders acquired a total of 88,390 shares of company stock valued at $597,569 over the last quarter. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Barclays reduced their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a report on Tuesday, July 2nd. BTIG Research initiated coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.44.

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.