Shares of SoFi Technologies (SOFI 19.26%) had slipped nearly 10% as of 2:03 p.m. ET today after the company announced that it plans to acquire the core processing company Technisys. So what SoFi plans to purchase Technisys for $1.1 billion in an all-stock transaction.
Does Sofi stock have much further to fall?
· SoFi plans to purchase Technisys for $1.1 billion in an all-stock transaction. Technisys develops core banking systems, which help banks carry out their daily operations, whether that is ...
What happened to SoFi technologies?
· SoFi Technologies (NASDAQ: SOFI) is falling 10% in late session trading after the company. Now Read: SoFi: Down 70% - In The Speculative Buy Zone.
What happens to SoFi’s revenue when Crypto collapses?
· The stock popped on earnings, but it failed right at the range resistance level we were watching and has now faded considerably. Since that earnings rally, shares have fallen in eight out of ten...
How did Sofi’s 2nd quarter results compare to expectations?
· Real-time trade and investing ideas on SoFi Technologies Inc SOFI from the largest community of traders and investors. Rooms Shows Rankings Earnings Newsletters Shop. Cancel. Log In. Sign Up. DOW 0.00%. S&P 500 0.00%. NASDAQ 0.00%. Trending now. SoFi Technologies Inc 6.75 1.09 (19.26%) Watch.
Why SoFi stock is falling?
Shares of SoFi Technologies saw a sharp drop Tuesday (May 10) and were halted for close to three hours after the digital personal finance company mistakenly released its first-quarter results early.
What's going on with SoFi?
SoFi Technologies Inc shares are trading lower Thursday after the company cut its full-year 2022 revenue guidance below analyst estimates and maintained first-quarter guidance below analyst estimates. SoFi lowered full-year revenue guidance from $1.57 billion to $1.47 billion versus the $1.53 billion estimate.
Will SoFi be a good investment?
For the full year, management expects adjusted sales to eclipse $1.57 billion, equal to a 55% increase from 2021. This is still extremely impressive growth, and investors should be elated by SoFi's ability to navigate ongoing challenges.
Is SoFi being shorted?
In Q1 of 2022, SOFI received its bank charter and acquired Technisys, which will both play critical roles in SOFI's future. Despite receiving the bank charter, SOFI became one of the most shorted stocks as 21.4% of its shares were shorted as of 2/28/22.
What is SoFi stand for?
The SoFi Stadium was named after the financial technology startup, Social Finance.
How does SoFi make their money?
SoFi makes money via transaction fees, loan securitization, referral fees, interest earned on cash, sweep programs, and a lot more. Founded in 2011 and headquartered in San Francisco, SoFi is one of the leading FinTech startups in the United States.
Who is SoFi owned by?
SoFi Lending Corp. is a wholly owned subsidiary of Respondent Social Finance, Inc. 3. Respondents have marketed, advertised, offered, and originated a variety of credit products to consumers, including unsecured loans for the purposes of refinancing consumers' student loans.
Who is buying SoFi stock?
In the last three months alone, between SoFi directors and CEO Anthony Noto himself, some $8.87 million worth of SoFi shares have been bought by insiders. It seems SoFi higher-ups are doing everything possible to take advantage of the company's 65% dip since November of last year.
How much will SoFi stock be worth?
Bank Of America recently initiated coverage on SoFi shares. With a price target of $17, analyst BoA Mihir Bhatia believes that SoFi will see its margins expand to 22% in 2022 (that's compared to only 3% in 2021). Less bullish, with a “hold” recommendation, Credit Suisse forecasts a target price of $16.50.
Is SoFi losing money?
According to Barron's, for the fourth quarter of 2021 SoFi reported a loss of 15 cents a share — a penny better than expectations — while its unadjusted revenue of $286 million exceeded management's guidance and the analyst consensus. In addition, SoFi reported that its customer count rose 87% to 3.5 million in 2021.
Does SoFi pay dividends?
SOFI TECHNOLOGIES (NASDAQ: SOFI) does not pay a dividend.
What is the float on SoFi?
Share StatisticsAvg Vol (3 month) 357.31MFloat 8657.56M% Held by Insiders 121.17%% Held by Institutions 135.79%Shares Short (Apr 29, 2022) 4144.63M7 more rows
When did SoFi stock peak?
SoFi stock peaked in February 2021 at $28.26, according to CNBC, soon after its merger was announced with Social Capital Hedosophia Corp V — one of several Special Purpose Acquisition Companies (SPACs) taken public by Chamath Palihapitiya, a venture capitalist and early Facebook employee.
What is SOFI loan?
SoFi is a financial services company that was initially known for its student loan refinancing business. SoFi has since added new products including personal loans, credit cards, mortgages, investment accounts, banking services, and financial planning. Through its 2020 acquisition of Galileo. SoFi also provides payment and account services for debit cards and digital banking.
How much is the net revenue for 2020?
Adjusted net revenue up at a 43% compound annual rate from an estimated $621 million in 2020 to a forecast $3.7 billion in 2025; and
Does SOFI have cloud?
SoFi noted that “it has engaged in heavy investments to migrate the technology operations to the cloud, expand geographically, and nearly double headcount for this part of the business,” according to MarketWatch.
Is Forbes opinion their own?
Opinions expressed by Forbes Contributors are their own.
Is SOFI growing faster than its long term forecast rate?
In short, SoFi is growing faster than its long-term forecast rate and appears to be investing to help fuel that growth.
Where Things Stand With SoFi
I wrote last month that SOFI stock is worth at least $19 per share based on analysts’ base target prices. Moreover, SoFi reported stellar earnings on Nov. 10, with the release of its third-quarter financial results.
Where Analysts Stand on SoFi Stock
Nevertheless, analysts’ projections for the stock still seem quite ebullient. For example, Seeking Alpha now shows that the average of 12 analysts is now $20.23. This is higher than the $19 per share price target last month.
What to Do With SoFi Stock
Recently, analysts have been taking note of the stock’s weakness and its higher underlying value. On Jan. 21, Wedbush initiated coverage on SOFI stock with an “outperform” rating and a $20 price target.
Is Clover Health still trading?
Clover Health, which merged with one of his SPACs, is still trading below $10 after it was accused by Hindenburg Research of fraud. Opendoor Technologies, the home-flipping platform that went public with a Palihapitiya SPAC, is down 58 percent from the peak. Article continues below advertisement.
Is IPOE stock holding at higher levels?
However, the stock is facing resistance at higher levels and isn't holding at higher levels.
Is SOFI stock falling?
SOFI stock is falling amid concerns about its valuations. The stock was looking overvalued compared to other fintech names. As I noted previously, SOFI's valuation multiples looked out of sync with other recently listed fintech names.
Is SOFI a good stock to buy?
While SOFI looks like a good stock to hold for the long term, the price wasn't right. Some of the other fintech names, like Affirm and Paysafe, seemed to offer better risk-reward tradeoffs.
Is SOFI a public company?
Social Finance or SoFi went public earlier this month through a merger with Chamath Palihapitiya’s Social Capital He dosophia Holdings V (IPOE). In a welcome break, the stock, which trades under the ticker “SOFI,” rose sharply on the merger date. Since then, it has looked weak. Why is SOFI stock falling and will it slump like other SPACs sponsored by Palihapitiya?
SOFI Stock: Likely to Take a Big Crypto Hit
The first issue with SOFI stock has to do with cryptocurrency. Specifically, crypto trading volume sank “more than 30%” in February versus January, Financial Advisor reported on Feb. 4, citing CryptoCompare.
Loan Demand Looks Poised to Fall
That’s issue number one. But there are more problems when it comes to SOFI stock. One such problem has to do with those aforementioned college loans. Since the pandemic began, college attendance has dropped significantly. On Jan. 13, NPR reported the following:
Wall Street Is Not Thrilled with Fintech, Unprofitability
Finally for SOFI stock, there’s the issue of Wall Street and its current view of fintechs and unprofitable firms.
The Bottom Line on SOFI Stock
All told, adding to the issues that I’ve outlined above, I’m sticking with my core thesis on Sofi. The thesis? That its app is not meaningfully differentiated from the offerings of competitors. Specifically, Zelle — the app that multiple large banks utilize — provides many of the functions of Sofi Money.