SoFi Technologies (NASDAQ:SOFI – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.090-0.100 for the period, compared to the consensus estimate of 0.090. The company issued revenue guidance of $2.4 billion-$2.5 billion, compared to the consensus revenue estimate of $2.4 billion. SoFi Technologies also updated its FY24 guidance to $0.09-0.10 EPS.
SoFi Technologies Trading Down 0.3 %
NASDAQ:SOFI traded down $0.02 on Tuesday, reaching $7.31. The stock had a trading volume of 70,810,444 shares, compared to its average volume of 46,861,301. The firm’s fifty day moving average is $6.86 and its two-hundred day moving average is $7.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The company has a market cap of $7.73 billion, a price-to-earnings ratio of -23.61, a P/E/G ratio of 1.72 and a beta of 1.70. SoFi Technologies has a 12-month low of $6.15 and a 12-month high of $11.70.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last released its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. During the same period in the previous year, the company earned ($0.05) EPS. SoFi Technologies’s revenue for the quarter was up 26.2% on a year-over-year basis. Equities analysts expect that SoFi Technologies will post 0.08 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Insider Activity
In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies 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 of the company’s stock, valued at $2,906,704.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Noto purchased 28,775 shares of SoFi Technologies stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the acquisition, the chief executive officer now directly owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. Over the last three months, insiders bought 88,390 shares of company stock worth $597,569. 2.60% of the stock is currently owned by company 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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