SoFi Technologies, Inc. (NASDAQ:SOFI) – Wedbush Research analysts released their fiscal year 2021 earnings estimates for SoFi Technologies shares in a note to investors on Tuesday, January 18. Wedbush analyst D. Chiaverini expects the company to earn ($3.44) per share for the year. Wedbush currently has an “outperform” rating and a target price of $20.00 on the stock. Wedbush also released estimates for SoFi Technologies fourth quarter 2021 earnings at ($0.09) EPS, first quarter 2022 earnings at ($0.12) EPS, second quarter 2022 earnings at ($0.12) ) EPS, third quarter 2022 earnings at ($0.13) EPS, fourth quarter 2022 earnings at ($0.14) ) EPS, fiscal year 2022 earnings at ($0.50) EPS, 1st earnings quarter 2023 at ($0.08) EPS, 2nd quarter 2023 earnings at ($0.08) EPS, 3rd quarter 2023 earnings at ($0.09) EPS, 4th quarter 2023 earnings at ($0.09) ) EPS, FY2023 earnings at ($0.33) EPS, FY2024 earnings at ($0.01) EPS, FY2025 earnings at $0.20 EPS and fiscal year 2026 at $0.50 EPS.
Other equity research analysts have also recently published research reports on the stock. Oppenheimer raised his price target on SoFi Technologies shares from $23.00 to $28.00 and gave the company an “outperform” rating in a Thursday, November 11 research report. Jefferies Financial Group raised its price target on SoFi Technologies stock from $24.00 to $26.00 and gave the stock a “buy” rating in a Friday, Nov. 12, report. Credit Suisse Group raised its price target on SoFi Technologies from $16.50 to $19.00 and gave the company a “neutral” rating in a Wednesday, Nov. 17 research note. Morgan Stanley lowered its price target on SoFi Technologies from $22.00 to $20.00 and set an “overweight” rating for the company in a Friday, Jan. 14 research note. Finally, Mizuho cut its price target on SoFi Technologies shares from $30.00 to $17.00 in a research report released Tuesday. One financial analyst gave the stock a sell rating, three gave the company a hold rating and seven gave the company a buy rating. According to MarketBeat, the stock currently has an average buy rating and an average price target of $21.70.
NASDAQ:SOFI opened at $15.00 on Friday. SoFi Technologies has a 1-year low of $12.02 and a 1-year high of $28.26. The company’s fifty-day moving average price is $16.05 and its two-hundred-day moving average price is $16.68. The company has a current ratio of 17.58, a quick ratio of 17.57 and a debt ratio of 0.65. SoFi Technologies Inc (NASDAQ:SOFI) last reported quarterly results on Wednesday, November 10. The company reported ($0.05) earnings per share for the quarter, beating the Zacks consensus estimate of ($0.14) by $0.09. The company posted revenue of $277.19 million in the quarter, versus a consensus estimate of $263.16 million.
In related news, director George Thompson Hutton sold 103,462 shares of the company in a trade on Monday, November 29. The stock was sold at an average price of $18.52, for a total value of $1,916,116.24. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, Director Iv (Gp) LLC Slta sold 7,361,378 shares of the company in a trade on Thursday, November 18. The stock was sold at an average price of $21.60, for a total value of $159,005,764.80. The disclosure of this sale can be found here. Insiders sold 17,541,508 shares of the company valued at $378,577,910 during the last quarter. Company insiders hold 35.10% of the company’s stock.
Several large investors have recently changed their positions in SOFI. Rockefeller Capital Management LP bought a new stock position in SoFi Technologies during the second quarter worth $292,000. Citigroup Inc. bought a new position in SoFi Technologies in the second quarter worth about $1,008,000. Cambridge Investment Research Advisors Inc. bought a new position in SoFi Technologies in the second quarter worth approximately $3,484,000. National Asset Management Inc. bought a new position in SoFi Technologies in the second quarter worth about $374,000. Finally, Westpac Banking Corp acquired a new stake in SoFi Technologies in the second quarter worth approximately $1,962,000. 45.81% of the shares are currently held by hedge funds and other institutional investors.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. The Company operates through three reportable segments: Lending, Financial Services and Technology Platform. Its financial services allow its members to borrow, save, spend, invest and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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