SoFi Technologies (SOFI: NSD) is set to report its first-quarter financial results on Monday, April 29th. Analysts are looking for the fintech company to deliver positive earnings per share (EPS) for the first time, marking a significant milestone.
Expected SoFi’s Q1 Earning Report:
Analysts project SoFi’s revenue to reach $553.81 million in Q1, representing a year-over-year increase of over 17%. While this is positive news, it signifies a moderation in revenue growth compared to previous quarters. It’s worth noting that this estimate falls within the company’s guidance range of $550 million to $560 million.
The major takeaway for investors might be SoFi’s anticipated shift to positive EPS in Q1. This comes after a loss of $0.05 per share in the same quarter last year. Analysts attribute this improvement to SoFi’s success in attracting high-quality deposits. This growth is expected to translate into lower funding costs and ultimately bolster SoFi’s profitability.
Stock Target Advisor’s Analysis on SoFi:
Stock Target Advisor’s gives SoFi’s stock to “Hold” rating with a target price is $8.57 and the projected price change in 12 months by Stock Target Advisor is 12.93%. Stock Target Advisor analysis of SoFi Technologies Inc. is Slightly Bearish, which is based on 3 positive signals and 6 negative signals.
Currently, 12 analysts covering SoFi Technologies and provide the average target price is USD 9.00 over the next 12 months. The last closing price of SoFi Technologies stock price was USD 7.59.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
