SoFi Technologies Inc (NASDAQ: SOFI): A Competitive Analysis And Growth Prospects


In the last trading session, 29.91 million shares of the SoFi Technologies Inc (NASDAQ:SOFI) were traded, and its beta was 1.76. Most recently the company’s share price was $7.30, and it changed around -$0.06 or -0.82% from the last close, which brings the market valuation of the company to $7.13B. SOFI currently trades at a discount to its 52-week high of $11.70, offering almost -60.27% off that amount. The share price’s 52-week low was $4.45, which indicates that the current value has risen by an impressive 39.04% since then. We note from SoFi Technologies Inc’s average daily trading volume that its 10-day average is 42.29 million shares, with the 3-month average coming to 56.12 million.

SoFi Technologies Inc stock received a consensus recommendation rating of Hold, based on a mean score of 3.18. If we narrow it down even further, the data shows that 2 out of 19 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 11 recommended SOFI as a Hold, whereas 2 deemed it a Buy, and 2 rated it as Underweight. SoFi Technologies Inc is expected to report earnings per share of $0.01 for the current quarter.

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SoFi Technologies Inc (NASDAQ:SOFI) trade information

Instantly SOFI has showed a red trend with a performance of -0.82% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -26.63% year-to-date, but still down -1.88% over the last five days. On the other hand, SoFi Technologies Inc (NASDAQ:SOFI) is -17.61% down in the 30-day period. We can see from the shorts that 209.9 million shares have been sold at a short interest cover period of 3.59 day(s).

The consensus price target as assigned by Wall Street analysts is $9.88, which translates to bulls needing to increase their stock price by 26.11% from its current value. Analyst projections state that SOFI is forecast to be at a low of $2.5 and a high of $22.

SoFi Technologies Inc (SOFI) estimates and forecasts

SoFi Technologies Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -3.95 percent over the past six months and at a 119.44% annual growth rate that is well above the industry average of 16.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 120.00% in revenue this quarter, and will report an increase of 116.70% in the next quarter. The year-over-year growth rate is expected to be 14.90%, up from the previous year.

Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $567 million in revenue for the current quarter. 10 analysts expect SoFi Technologies Inc to make $587.1 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $460.16 million and $488.81 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 23.20%. Forecasts for the next quarter put sales growth at 20.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 32.14%.

SOFI Dividends

SoFi Technologies Inc’s next quarterly earnings report is expected to be released around April 29 and May 03.

SoFi Technologies Inc (NASDAQ:SOFI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.52% of SoFi Technologies Inc shares, and 37.18% of them are in the hands of institutional investors. The stock currently has a share float of 38.54%. SoFi Technologies Inc stock is held by 689 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.34% of the shares, which is about 81.46 million shares worth $594.66 million.

Blackrock Inc., with 4.15% or 40.49 million shares worth $295.6 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 27.22 million shares worth $198.71 million, making up 2.79% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 21.97 million shares worth around $160.36 million, which represents about 2.25% of the total shares outstanding.