Wedbush Weighs in on SoFi Technologies, Inc.’s Q1 2024 Earnings (NASDAQ:SOFI)

SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) – Analysts at Wedbush issued their Q1 2024 earnings estimates for shares of SoFi Technologies in a research note issued on Wednesday, November 23rd. Wedbush analyst D. Chiaverini forecasts that the company will post earnings per share of $0.01 for the quarter. Wedbush currently has a “Outperform” rating and a $6.00 target price on the stock. The consensus estimate for SoFi Technologies’ current full-year earnings is ($0.43) per share. Wedbush also issued estimates for SoFi Technologies’ Q3 2024 earnings at $0.05 EPS, FY2024 earnings at $0.15 EPS, FY2025 earnings at $0.35 EPS and FY2026 earnings at $0.50 EPS.

A number of other equities analysts also recently issued reports on SOFI. Bank Of America (Bofa) upgraded shares of SoFi Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $8.00 to $9.00 in a report on Wednesday, September 14th. Mizuho dropped their target price on shares of SoFi Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday. Morgan Stanley dropped their target price on shares of SoFi Technologies from $7.50 to $7.00 and set an “equal weight” rating for the company in a report on Wednesday, November 2nd. Seaport Res Ptn restated a “neutral” rating on shares of SoFi Technologies in a report on Friday, September 9th. Finally, Bank of America upgraded shares of SoFi Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $8.00 to $9.00 in a report on Wednesday, September 14th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.85.

SoFi Technologies Stock Performance

Shares of SOFI opened at $4.66 on Thursday. The company has a 50-day simple moving average of $5.30 and a 200-day simple moving average of $6.05. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $4.32 billion, a PE ratio of -9.32 and a beta of 1.57. SoFi Technologies has a 52-week low of $4.53 and a 52-week high of $18.69.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 7.8% in the third quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock worth $326,027,000 after acquiring an additional 4,846,633 shares during the last quarter. BlackRock Inc. boosted its position in shares of SoFi Technologies by 2.7% in the third quarter. BlackRock Inc. now owns 31,679,161 shares of the company’s stock worth $154,595,000 after acquiring an additional 826,805 shares during the last quarter. Riverwood Capital Management Ltd. acquired a new stake in shares of SoFi Technologies in the first quarter worth approximately $207,873,000. State Street Corp boosted its position in shares of SoFi Technologies by 0.4% in the third quarter. State Street Corp now owns 11,735,611 shares of the company’s stock worth $57,270,000 after acquiring an additional 48,717 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of SoFi Technologies by 35,197.2% in the third quarter. Point72 Asset Management L.P. now owns 3,509,722 shares of the company’s stock worth $17,127,000 after acquiring an additional 3,519,722 shares during the last quarter. 38.19% of the stock is owned by institutional investors and hedge funds.

About SoFi Technologies

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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.

See Also

Earnings History and Estimates for SoFi Technologies (NASDAQ:SOFI)

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