SoFi Technologies (NASDAQ:SOFI – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $0.09-0.10 for the period, compared to the consensus EPS estimate of $0.09. The company issued revenue guidance of $2.43-2.47 billion, compared to the consensus revenue estimate of $2.40 billion. SoFi Technologies also updated its FY 2024 guidance to 0.090-0.100 EPS.
SoFi Technologies Stock Performance
NASDAQ SOFI traded down $0.06 on Tuesday, hitting $7.27. The stock had a trading volume of 68,080,747 shares, compared to its average volume of 46,846,773. The company’s 50-day moving average is $6.86 and its two-hundred day moving average is $7.36. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of -23.61, a P/E/G ratio of 1.72 and a beta of 1.70. 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 has a one year low of $6.15 and a one year high of $11.70.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. On average, analysts expect that SoFi Technologies will post 0.08 earnings per share for the current year.
Analysts Set New Price Targets
Read Our Latest Analysis on SOFI
Insider Transactions at SoFi Technologies
In related news, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Noto acquired 28,900 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 88,390 shares of company stock worth $597,569. 2.60% of the stock is owned by corporate insiders.
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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