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- 1 SOFI stock price has shown bullishness in its 1-year price analysis gaining nearly 45% in price.
- 2 The YTD price analysis further shows more price gain in SOFI stock price as compared to its 1-year price analysis.
Since the beginning of this year, SOFI stock price analysis shows quite good growth in its trading price. By following a bullish trend, SOFI share price reached its 52-week high at $10.23 in mid-June 2023. However, the journey of marking a 1-year high was clearly supported by good trading volume nearly from late May 2023 to June 2023. SOFI share price rose almost 87% in its year-to-date (YTD) analysis which shows nearly 45% growth in 1-year of time period.
SOFI Stock Price Analysis
SOFI stock price started its week by adding $0.66 and gaining 8.20% in its trading price while closing at $8.71 on July 10, 2023, Monday. SOFI share price opened at $8.10, and rose to $8.72 while the low was $8.04. Notably, its 1-day price gain was a bit high from its last week’s price gain of 4.19%, as per the data sourced from TradingView, a web-based social network for traders.
As the above price analysis chart shows, the closing price of SOFI stock surpassed its 20-day moving average. With the bullish trend, SOFI share price took an upside ride whereas its RSI further seems to have started following the bullish trend.
As SoFi Technologies Inc. will report its Q2 2023 earnings and revenue report on July 31, 2023, more increase in its trading volume may be expected. Due to an expected increase in its trading volume, SOFI stock price may show volatility in its upcoming trading session.
The Fundamentals of SoFi Technologies Inc.
SoFi Technologies Inc. (NASDAQ: SOFI), an American online personal finance company, has a market cap of nearly $8.19 Billion. The company released its first quarter (Q1) 2023 earnings and revenue reports on May 1, 2023. As per the report, its reported earnings per share (EPS) is negative $0.05 whereas the estimate was negative $0.08.
Moreover, the reported revenue is $460.16 Million while the estimate was $440.57 Million. The estimated EPS for the upcoming second quarter (Q2) 2023 report is negative $0.06, while the revenue is expected to reach $474.72 Million.
Last year, the revenue of SoFi Technologies Inc. reached $1.54 Billion. The most of which $1.14 Billion came from its highest performing source at the moment, lending. Notably, the U.S. made the greatest contribution to the revenue figure as last year it added $1.50 Billion to the personal finance company.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
