SoFi Technologies (NASDAQ:SOFI – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.040-0.040 for the period, compared to the consensus EPS estimate of 0.030. The company issued revenue guidance of $625.0 million-$645.0 million, compared to the consensus revenue estimate of $610.9 million. SoFi Technologies also updated its FY 2024 guidance to 0.090-0.100 EPS.
SoFi Technologies Trading Up 1.4 %
Shares of NASDAQ SOFI traded up $0.10 during trading hours on Tuesday, reaching $7.43. The stock had a trading volume of 36,087,073 shares, compared to its average volume of 46,620,520. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of -23.64, a P/E/G ratio of 1.72 and a beta of 1.70. The business’s fifty day moving average price is $6.86 and its two-hundred day moving average price is $7.36. SoFi Technologies has a 52-week low of $6.15 and a 52-week high of $11.70.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million during the quarter, compared to analyst estimates 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 was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Analysts expect that SoFi Technologies will post 0.08 EPS for the current fiscal year.
Analyst Ratings Changes
View Our Latest Research Report on SoFi Technologies
Insiders Place Their Bets
In other news, CEO Anthony Noto bought 28,900 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $6.92 per share, with a total value of $199,988.00. Following the purchase, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Anthony Noto bought 28,900 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $6.92 per share, with a total value of $199,988.00. Following the purchase, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. In the last three months, insiders have purchased 88,390 shares of company stock valued at $597,569. Company insiders own 2.60% of the company’s stock.
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.
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