SoFi Technologies, Inc. (SOFI) Earnings Report Beats: Average Analyst target at $6.86

IPOE Stock

SOFI Technologies Earnings

SoFi Technologies, Inc. (SOFI) recently released its quarterly earnings report, showcasing an impressive performance that beat both earnings and revenue expectations. The company’s quarterly loss was $0.05 per share, beating the  Consensus Estimate of a loss of $0.08 per share. In comparison to the previous year, the company’s earnings improved significantly, with a loss of $0.14 per share in the same quarter last year. These figures are adjusted for non-recurring items.

The quarterly report represented an earnings surprise of 38 percent surpassing consensus EPS estimates for the third time in the last four quarters.  SoFi Technologies, Inc. posted revenues of $460 million for the quarter, surpassing  estimates. and a  significant increase from $330.34 million in revenues the previous year.

In conclusion, SoFi Technologies, Inc. has posted impressive earnings and revenue results for the first quarter, beating expectations and improving significantly from the previous year.. Investors will be closely watching the company’s estimates for the coming quarters and current fiscal year, which will provide more insight into the stock’s future performance.

SOFI Stock Forecast & Analysis

According to the forecast of 11 analysts, the average target price for SoFi Technologies Inc. over the next 12 months is USD 6.86. This means that analysts are optimistic about the future performance of the company’s stock and are recommending investors to buy it. The average analyst rating for SoFi Technologies Inc. is a “Buy”, which further supports this view.

Stock Target Advisor, an independent stock analysis tool, has a different opinion. Its analysis is Bearish for SoFi Technologies Inc. based on 2 positive signals and 6 negative signals. This suggests that the company may face challenges or risks that could impact its future performance.

Despite this, the stock price of SoFi Technologies Inc. has been performing well in recent times. At the last closing, the stock price was USD 6.23, which has increased by 4.88% over the past week, 8.92% over the past month, and 1.80% over the last year. This indicates that investors have been optimistic about the company’s future prospects and have been willing to buy the stock at a higher price, still believing their is considerable upside.

 

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