SoFi Technologies Stock Falls 10% Following Weak Guidance (2024)

FAQs

Why is SoFi stock dropping? ›

Sofi Technologies gave lower-than-expected current quarter guidance as it sees 2024 as a "transitional year." The fintech firm will rely more on profits from its Tech and Financial Services platforms and less on lending. The news offset solid profit and sales in the first quarter, and a higher full-year outlook.

SoFi Technologies's analyst rating consensus is a Hold. This is based on the ratings of 18 Wall Streets Analysts.

The financial health and growth prospects of SOFI, demonstrate its potential to underperform the market. It currently has a Growth Score of D. Recent price changes and earnings estimate revisions indicate this would be a good stock for momentum investors with a Momentum Score of A.

SoFi Earnings: Revenue Growth Slows on Lower Loan Growth and Higher Credit Costs. We see SoFi stock as significantly undervalued.

SoFi reported its second consecutive quarter of GAAP net income, achieving $88.0 million in the first quarter of 2024, which includes a $59.2 million one-time benefit from exchanging convertible debt in the quarter. This compares to a loss of $34.4 million in the first quarter of 2023.

What percentage of SoFi Technologies (SOFI) stock is held by retail investors? According to the latest TipRanks data, approximately 44.20% of SoFi Technologies (SOFI) stock is held by retail investors. Who owns the most shares of SoFi Technologies (SOFI)? Vanguard owns the most shares of SoFi Technologies (SOFI).

Stock Price Forecast

The 19 analysts with 12-month price forecasts for SoFi Technologies stock have an average target of 9.00, with a low estimate of 3.00 and a high estimate of 14.

SoFi takes your security very seriously. Upon depositing funds into your SoFi checking and, or savings accounts (including vaults), the balance is FDIC insured up to $250,000 per account holder across all deposit accounts. Joint accounts will be insured up to $500,000.

As of 2024-05-23, the Intrinsic Value of SoFi Technologies Inc (SOFI) is -0.84 USD. This SOFI valuation is based on the model Peter Lynch Fair Value. With the current market price of 7.02 USD, the upside of SoFi Technologies Inc is -112%.

According to analysts, SOFI price target is 8.53 USD with a max estimate of 12.00 USD and a min estimate of 4.00 USD.

Will SoFi become profitable? ›

During the fourth quarter, ended Dec. 31, SoFi surprised investors by posting its first-ever profit on the basis of generally accepted accounting principles. What's even better is that management told investors that ongoing profitability can be expected through 2026.

SoFi Bank's only deposit product is a joint checking and savings account. But, as an online-only bank, SoFi Bank has lower fees, higher interest rates and a more extensive ATM network than traditional banks. In exchange, you won't get in-person service since there are no physical branches.

SoFi Technologies Inc. on Monday reported a profit beat for the latest quarter while boosting its full-year outlook, but shares were falling after the company came up short with its outlook for the current quarter.

SoFi Technologies has a total shareholder equity of $6.1B and total debt of $2.9B, which brings its debt-to-equity ratio to 47.2%. Its total assets and total liabilities are $31.3B and $25.2B respectively.

As of 2024-05-17, the Fair Value of SoFi Technologies Inc (SOFI) is -1.42 USD. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 7.12 USD, the upside of SoFi Technologies Inc is -120%.

Who is SoFi Best For? SoFi Invest is best for traders wanting to invest in commission-free stocks, ETFs, and options. It offers a good selection of accounts, including a self-managed brokerage account, a robo-advisor, and retirement savings accounts (both active and automatic options available).

SoFi Technologies is forecast to grow earnings and revenue by 52.2% and 13.1% per annum respectively. EPS is expected to grow by 55.8% per annum. Return on equity is forecast to be 7.7% in 3 years.

Now that SoFi has met its goal, investors are pocketing their gains. SoFi stock gained 116% in 2023, right before the Q4 results were released. Another is that as it attains profitability, it's looking more like a typical bank stock, and bank stocks come with lower valuations.