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- 1 SoFi Technologies Inc. (NASDAQ: SOFI) stock lost over 1.27% of its trading prices.
- 2 In the pre-market trading session, Sofi Technologies Inc stock opened 0.43% higher than its last closing prices.
SoFi Technologies Inc. (NASDAQ: SOFI) stock lost over 1.27% of its trading price. It opened at $9.40, lowering to $9.31. The highest traded price was $9.78 and the stock was $9.33 at closing, with an intraday trading volume of 38.81 Million.
Despite the intraday decline, SOFI stock surged 17.95% in a month and over 60% in a quarter. The annual price target of the stock was $8.16, around 12% less than the current trading prices.
In the pre-market trading session, Sofi Technologies Inc. stock opened 0.43% higher than its last closing prices. Over the 52 weeks, the stock’s lowest traded price was $4.24, and its highest traded price was $10.23.
After analyzing the technical aspects of SOFI stock, it is noted that buyers were trying hard to establish their position. Still, they failed in doing so, and sellers overruled and dragged the prices downward.
If, on the July 26 trading session, buyers succeed in overruling sellers, then SOFI stock might face immediate resistance at $10.13. If buyers sustain their momentum, it might meet the next resistance of $11.71.
Market watchers believe that further upward movement is possible and is also expected to hit the fresh 52-week highs. Sofi Technologies Inc.’s market capitalization is $8.779 Billion, and the average trading volume of SOFI stock is 39.696 Million.
Sofi Technologies Inc. Earnings & Revenue
In Q1 2023, Sofi Technologies Inc. reported 4.45% more revenue than estimated figures. As per analysts, the company was supposed to report $440.57 Million, but it reported $460.16 Million. In Q1 and Q2 2023, the company is expected to report $475.87 Million & $511.89 Million.
The reported Earnings Per Share surged over 37.71%, and the estimated eps for Q2 and Q3 is -$0.06.
According to TradingView, 819.406 Million shares of Sofi Technologies Inc. are free-floating, and the remaining 121.49 Million are closely held by the company’s financial backers or the directors.
In the financial year 2022 revenue to profit conversion of the company constitutes 51% of gross profit, 4% of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), -4% of Earnings before interest and taxes (EBIT), and 18% of net income.
The lending business, technology platform, and other financial services generate most of the company’s income. It serves customers in the United States and numerous other nations.
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 assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
