SoFi Technologies Inc (NASDAQ: SOFI) Stock’s Potential for Success in the Coming Months

In the last trading session, 44.37 million SoFi Technologies Inc (NASDAQ:SOFI) shares changed hands as the company’s beta touched 1.69. With the company’s per share price at $6.61 changed hands at -$0.22 or -3.15% during last session, the market valuation stood at $6.34B. SOFI’s last price was a discount, traded about -77.0% off its 52-week high of $11.70. The share price had its 52-week low at $4.24, which suggests the last value was 35.85% up since then. When we look at SoFi Technologies Inc’s average trading volume, we note the 10-day average is 44.15 million shares, with the 3-month average coming to 30.55 million.

Analysts gave the SoFi Technologies Inc (SOFI) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.68. If we narrow down to specifics, the data shows that 2 out of 19 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 12 recommended SOFI as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. SoFi Technologies Inc’s EPS for the current quarter is expected to be $0.

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SoFi Technologies Inc (NASDAQ:SOFI) trade information

Instantly SOFI was in red as seen at the end of in last trading. With action -6.04%, the performance over the past five days has been red. The drop to weekly highs of 7.53 on Monday, 11/20/23 subtracted -3.15% to the stock’s daily price. The company’s shares are showing year-to-date upside of 43.49%, with the 5-day performance at -6.04% in the red. However, in the 30-day time frame, SoFi Technologies Inc (NASDAQ:SOFI) is -10.24% down. Looking at the short shares, we see there were 117.49 million shares sold at short interest cover period of 3.66 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.18, meaning bulls need an upside of 28.0% from its current market value. According to analyst projections, SOFI’s forecast low is $3.00 with $15.00 as the target high. To hit the forecast high, the stock’s price needs a -126.93% plunge from its current level, while the stock would need to tank 54.61% for it to hit the projected low.

SoFi Technologies Inc (SOFI) estimates and forecasts

Data shows that the SoFi Technologies Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 25.76% over the past 6 months, a 57.50% in annual growth rate that is considerably higher than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for SoFi Technologies Inc will rise 100.00%, while the growth in revenue is estimated to hit 100.00% for the next quarter. Year-over-year growth is forecast to reach 33.00% up from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $570.69 million. 9 analysts are of the opinion that SoFi Technologies Inc’s revenue for the quarter ending Mar 2024 will be $583.29 million. The company’s revenue for the corresponding quarters a year ago was $443.42 million and $460.16 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 28.70%. The estimates for the next quarter sales put growth at 26.80%.

The 2023 estimates are for SoFi Technologies Inc earnings to increase by 14.63%.

SOFI Dividends

SoFi Technologies Inc is expected to release its next quarterly earnings report between January 29 and February 02.

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