SoFi Technologies (NASDAQ:SOFI – Get Free Report) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.04 for the period, compared to the consensus earnings per share estimate of $0.03. The company issued revenue guidance of $625-645 million, compared to the consensus revenue estimate of $610.86 million. SoFi Technologies also updated its FY 2024 guidance to 0.090-0.100 EPS.
SoFi Technologies Price Performance
Shares of NASDAQ SOFI opened at $7.33 on Tuesday. SoFi Technologies has a 1-year low of $6.15 and a 1-year high of $11.70. The company has a 50-day moving average of $6.86 and a two-hundred day moving average of $7.36. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, equities research analysts expect that SoFi Technologies will post 0.08 earnings per share for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on SOFI
Insider Activity at SoFi Technologies
In related news, CEO Anthony Noto bought 28,900 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the acquisition, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Anthony Noto purchased 28,900 shares of SoFi Technologies stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the chief technology officer now 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 acquired 88,390 shares of company stock worth $597,569. 2.60% of the stock is owned by company insiders.
SoFi Technologies Company Profile
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.
See Also
- Five stocks we like better than SoFi Technologies
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Should You Invest in Bonds? Here’s What to Know
- 5 Top Rated Dividend Stocks to Consider
- Why This Manufacturer is Committing to a Massive Buyback Program
- Investing In Preferred Stock vs. Common Stock
- Top 2 Cheap Healthcare Stocks to Buy as Sector Outperforms
Receive News & Ratings for SoFi Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SoFi Technologies and related companies with MarketBeat.com's FREE daily email newsletter.