SoFi Technologies, Inc. (NASDAQ:SOFI - Get Rating) - Research analysts at Wedbush reduced their Q1 2023 earnings per share (EPS) estimates for SoFi Technologies in a report issued on Wednesday, November 23rd. Wedbush analyst D. Chiaverini now anticipates that the company will post earnings per share of ($0.08) for the quarter, down from their previous estimate of ($0.07). Wedbush has a "Outperform" rating and a $6.00 price objective 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' Q2 2023 earnings at ($0.07) EPS, Q3 2023 earnings at ($0.06) EPS, Q4 2023 earnings at ($0.04) EPS, FY2023 earnings at ($0.25) EPS and Q2 2024 earnings at $0.03 EPS.
SOFI has been the subject of several other research reports. Bank of America raised SoFi Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $8.00 to $9.00 in a research report on Wednesday, September 14th. Seaport Res Ptn restated a "neutral" rating on shares of SoFi Technologies in a report on Friday, September 9th. Mizuho reduced their price target on SoFi Technologies from $7.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, November 23rd. The Goldman Sachs Group reduced their price target on SoFi Technologies from $8.50 to $7.50 and set a "neutral" rating for the company in a report on Wednesday, November 2nd. Finally, Bank Of America (Bofa) upgraded SoFi Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $8.00 to $9.00 in a report on Wednesday, September 14th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.85.
SoFi Technologies Stock Performance
Shares of SoFi Technologies stock opened at $4.60 on Monday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $4.27 billion, a P/E ratio of -9.20 and a beta of 1.57. The business has a fifty day simple moving average of $5.24 and a two-hundred day simple moving average of $6.04. SoFi Technologies has a 12 month low of $4.51 and a 12 month high of $18.69.
Institutional Investors Weigh In On SoFi Technologies
Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its stake in shares of SoFi Technologies by 13.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 20,210 shares of the company's stock valued at $191,000 after purchasing an additional 2,332 shares during the period. Arizona State Retirement System grew its stake in shares of SoFi Technologies by 3.8% during the 1st quarter. Arizona State Retirement System now owns 145,998 shares of the company's stock valued at $1,380,000 after purchasing an additional 5,360 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of SoFi Technologies by 12.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,567 shares of the company's stock valued at $525,000 after purchasing an additional 6,197 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in shares of SoFi Technologies by 125.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,375 shares of the company's stock valued at $32,000 after purchasing an additional 1,875 shares during the period. Finally, Banque Pictet & Cie SA bought a new stake in shares of SoFi Technologies during the 1st quarter valued at about $192,000. 38.19% of the stock is currently owned by institutional investors.
SoFi Technologies Company Profile
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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