SoFi Technologies, Inc. provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services.
Sofi Technologies stock last closed at $7.36, up 2.22% from the previous day, and has increased 27.78% in one year. It has underperformed other stocks in the Credit Services industry by 0.01 percentage points. Sofi Technologies stock is currently +65.39% from its 52-week low of $4.45, and -37.09% from its 52-week high of $11.70.
At the moment, there are 976.74M shares of SOFI outstanding. The market capitalization of SOFI is $7.19B. In the last 24 hours, 34.56M SOFI shares were traded.
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You can view all of the due diligence checks on SOFI's stock page.
Investors use many financial metrics, analyses, models, and charts to gauge SOFI's true value.
Using relative valuations methods:
You can do more valuation analysis on SOFI's stock here.
Out of 11 Wall Street analysts who track SOFI, the consensus analyst rating on SOFI is a Hold
It's important to note that analyst forecasts are not stock recommendations, nor are they financial advice.
Dan Dolev, a bottom 1% analyst from Mizuho maintains SOFI with a strong buy rating and lowers their SOFI price target from $15.00 to $12.00, on Jan 18, 2024.
Mark Devries, a top 23% analyst from Deutsche Bank initiates coverage on SOFI with a hold rating and announces their SOFI price target of $11.00, on Jan 10, 2024.
Michael Perito, a top 19% analyst from Keefe, Bruyette & Woods downgrades SOFI to a sell rating and lowers their SOFI price target from $7.50 to $6.50, on Jan 3, 2024.
Ashwin Shirvaikar, a top 13% analyst from Citigroup maintains SOFI with a strong buy rating and lowers their SOFI price target from $12.00 to $11.00, on Nov 24, 2023.
Citigroup's Ashwin Shirvaikar lowered their price target on Sofi Technologies (NASDAQ: SOFI) by 8.3% from $12 to $11 on 2023/11/24. The analyst maintained their Strong Buy rating on the stock.
Having had almost a month to digest Sofi Technologies' Q3 2023 earnings report, released on 2023/10/30, Shirvaikar updated their model and reduced their price target.
Strong loan origination across all sectors, larger-than-expected expansion of the net interest margin, and ongoing flexibility from deposits all contributed to SoFi's "solid" quarterly results, the analyst told investors.
However, because of the current trends of lower lending fee revenues, higher write-offs, and volatility in fair value changes and hedge gains, Shirvaikar lowered their revenue expectations for 2024 and 2025 by 3% to 5%.
Nonetheless, "Citigroup's positive view on Sofi Technologies' digital bank leadership position is unchanged," the analyst noted.
For Q3 2023, Sofi Technologies reported:
Management guided:
For Q4 2023:
"GAAP net income profitability in Q4, with depreciation and amortization and share-based compensation expenses to increase in the mid-to-high single digit percentage range compared to Q3."
For FY 2023:
CEO Anthony Noto commented: “We delivered another quarter of record financial results and generated our tenth consecutive quarter of record adjusted net revenue of $531 million. We saw record new member adds of 717,000 and accelerating growth of 47% for total ending members of over 6.9 million, along with record new product adds of over 1 million, also with accelerating growth of 45% to over 10 million total products.
“Total deposits grew by $2.9 billion, up 23% during the third quarter to $15.7 billion at quarterend, and over 90% of SoFi Money deposits (inclusive of Checking and Savings and cash management accounts) are from direct deposit members. For new direct deposit accounts opened in the third quarter, the median FICO score was 743.
"As a result of this growth in high-quality deposits, we have benefited from a lower cost of funding for our loans. Our deposit funding also increases our flexibility to capture additional net interest margin (NIM) and optimize returns, a critical advantage in light of notable macroeconomic uncertainty."
Terry Ma, a bottom 28% analyst from Barclays initiates coverage on SOFI with a hold rating and announces their SOFI price target of $8.00, on Nov 15, 2023.
You can dig deeper into what analysts are saying on the Sofi Technologies stock forecast page.
Last year, SOFI revenue was $2.12B. In the past five year, SOFI's revenue has increased by 51.11% per year. This was faster than the Credit Services industry average of 9.56%.
Dive into SOFI's earnings and revenue performance here.
In the last 12 months, insiders at SOFI have sold more shares than they have bought.
Jeremy Rishel, Chief Technology Officer of SOFI, was the latest SOFI insider to sell. They sold $389,971.89 worth of SOFI stock on Mar 19, 2024.
Get more info about who owns SOFI shares here.
No, Sofi Technologies doesn't provide an income stream by paying out dividends.
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