SoFi Technologies posted a loss for the second quarter, even as revenue doubled.
The online personal finance company incurred a net loss of -48 cents a share, vs. the prior year quarter’s loss of -3 cents a share.
Revenue reached $231.27 million in the quarter from $114.95 million last year.
SoFi’s total membership rose +113% year-over-year to 2.6 million. Total products increased +123% from the year-ago to 3.7 million at quarter-end.
Regarding this year’s loss, the company said, “We remeasured our valuation allowance during 2020 as a result of the deferred tax liabilities recognized in connection with our acquisition of Galileo, which decreased the valuation allowance by $99.8 million.”
“The absence of that tax benefit, together with significant non-cash stock-based compensation expenses and fair value changes in warrants primarily related to the fair market value of SoFi stock, were the largest contributors to the current period net loss.”
SoFI said that management expects “continued strong growth in the third quarter of 2021”: adjusted net revenue is expected to range between $245 million and $255 million, and adjusted EBITDA is projected to be $(7) million to $3 million.
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where SOFI advanced for three days, in of 138 cases, the price rose further within the following month. The odds of a continued upward trend are .
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where SOFI's RSI Oscillator exited the oversold zone, of 18 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on May 25, 2023. You may want to consider a long position or call options on SOFI as a result. In of 43 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for SOFI just turned positive on May 22, 2023. Looking at past instances where SOFI's MACD turned positive, the stock continued to rise in of 26 cases over the following month. The odds of a continued upward trend are .
SOFI moved above its 50-day moving average on May 30, 2023 date and that indicates a change from a downward trend to an upward trend.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The 50-day moving average for SOFI moved below the 200-day moving average on May 15, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SOFI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SOFI broke above its upper Bollinger Band on May 30, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SOFI’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.084) is normal, around the industry mean (3.863). P/E Ratio (9.443) is within average values for comparable stocks, (29.125). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (1.399). SOFI has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.049). P/S Ratio (3.234) is also within normal values, averaging (5.572).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SOFI’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
|ETFs / NAME||Price $||Chg $||Chg %|
|Eaton Vance New York Municipal|
|Hartford Schroders ESG US Equity ETF|
|Pacer Benchmark Data&Infras RE SCTR ETF|
|Pacer Cash Cows Fund of Funds ETF|
|JPMorgan BetaBuilders Europe ETF|
A.I.dvisor indicates that over the last year, SOFI has been loosely correlated with UPST. These tickers have moved in lockstep 64% of the time. This A.I.-generated data suggests there is some statistical probability that if SOFI jumps, then UPST could also see price increases.
|UPST - SOFI|
|LC - SOFI|
|PYPL - SOFI|
|RKT - SOFI|
|COF - SOFI|