Is SoFi Technologies (SOFI) Stock a Buy Ahead of Q2 Earnings Wednesday?
TLDR
- SoFi reports Q2 earnings Wednesday before market open; analysts expect EPS of $0.11 and revenue of $1.13B
- Stock is down ~38% year to date, trading at $16.88, closer to its 52-week low than its high
- Adjusted EBITDA margin guidance is ~30% for Q2, below the long-term 38% target
- Record Q1 loan originations of $12.18B (up 68% YoY) set a high bar heading into the print
- Wall Street is split: 7 buys, 12 holds, 4 sells, with a consensus price target of $20.63
SoFi Technologies (SOFI) heads into Wednesday’s Q2 earnings report in a tough spot. The stock is down nearly 38% year to date, trading around $16.88 — far closer to its 52-week low of $14.92 than its high of $32.73.
Wall Street expects EPS of $0.11, up 37.5% year over year, on revenue of $1.13B — a 31.7% jump from the same period last year. That said, it would still be a slight step back from Q1, when SoFi posted EPS of $0.12 and revenue of $1.10B.
The Q1 revenue figure beat estimates by $50M, and the company added 1.1 million new members during the quarter. Investors will want to see that momentum carry through.
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