Reviewing The Case For SoFi Technologies Inc (SOFI) Going Higher

Currently, there are 975.86M common shares owned by the public and among those 903.69M shares have been available to trade.

The company’s stock has a 5-day price change of -1.88% and -29.26% over the past three months. SOFI shares are trading -26.63% year to date (YTD), with the 12-month market performance up to 30.59% higher. It has a 12-month low price of $4.45 and touched a high of $11.70 over the same period. SOFI has an average intraday trading volume of 56.12 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.39%, -7.24%, and -11.80% respectively.

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Institutional ownership of SoFi Technologies Inc (NASDAQ: SOFI) shares accounts for 35.35% of the company’s 975.86M shares outstanding.

It has a market capitalization of $7.13B and a beta (3y monthly) value of 1.76. The earnings-per-share (ttm) stands at -$0.36. The company has a debt-to-equity ratio at 0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.30% over the week and 4.60% over the month.

Analysts forecast that SoFi Technologies Inc (SOFI) will achieve an EPS of $0.01 for the current quarter, $0.01 for the next quarter and $0.26 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 118.88%, and 277.99% over the next financial year.

Looking at the support for the SOFI, a number of firms have released research notes about the stock. Morgan Stanley stated their Underweight rating for the stock in a research note on January 31, 2024, with the firm’s price target at $7-$6.50. Keefe Bruyette was of a view on January 03, 2024 that the stock is Underperform, while Barclays gave the stock Equal Weight rating on November 15, 2023, issuing a price target of $8. Morgan Stanley on their part issued Equal-Weight rating on October 31, 2023.

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