SoFi Technologies (SOFI) is scheduled to release its second-quarter results on July 30. Wall Street analysts expect the company’s bottom line to have improved in Q2. However, individual investors have a Very Negative view of the company, given that in the last seven days, the number of portfolios (tracked by TipRanks) holding the stock decreased by 1.1%.
Overall, among the 746,050 portfolios monitored by TipRanks, 2.9% have invested in SOFI stock.
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Mixed Q2 Projections
Analysts expect SoFi to post revenue of $564.39 million in Q2, down from $676.89 in the year-ago quarter. Meanwhile, Wall Street expects the company to post earnings of $0.01 per share against a loss of $0.06 in the prior-year quarter.
It should be noted that SOFI stock is known to make large moves post-earnings. Interestingly, this time also options traders are pricing in a 13.26% move in either direction.
Is SoFi Technologies a Buy, Sell, or Hold?
Based on analysts’ consensus rating, SoFi is a Hold ahead of Q2 earnings. This is based on four Buy, nine Hold, and three Sell recommendations. The analysts’ average price target on SOFI stock of $8.15 implies 8.09% upside potential from current levels. Year-to-date, the stock has declined by 24.2%.
