At a glance
- SoFi plans to release third-quarter results at approximately 7 a.m. Eastern on October 27.
- Its conference call is scheduled for 8 a.m. Eastern.
- TipRanks reports that KBW retained a Sell rating and lowered its price target.
SoFi Technologies plans to report third-quarter financial results October 27, with investors awaiting an update on a business that combines consumer financial services and technology for other institutions. The company’s September 29 announcement sets an approximately 7 a.m. Eastern release and an 8 a.m. conference call the same morning. [1]
An analyst flags interest-rate exposure
Ahead of the results, TipRanks reported that Keefe, Bruyette & Woods analyst Tim Switzer maintained a Sell rating and cut his price target to $15 from $16. Its October 12 report attributes the cautious assessment to rising interest rates and the effect they can have on SoFi’s accounting, revenue composition and capital. [2]
Switzer’s central concern, as summarized by TipRanks, is fair-value accounting during a quarter with sharply higher rates. The analyst expects a gross rate-related headwind exceeding $1 billion before hedging. That is an attributed forecast, not a loss already reported by the company. His base case still has SoFi meeting consensus and its quarterly guidance. [2]
Expectations are not reported results
TipRanks listed Wall Street expectations of $0.17 in earnings per share and approximately $1.25 billion in revenue. It also reported a Hold consensus drawn from seven Buy, seven Hold and three Sell ratings. Those figures describe an analyst snapshot ahead of publication; they do not establish the third quarter’s actual earnings or a guaranteed share-price outcome. [2]
Where the company’s update will appear
SoFi says the financial and operating results will be posted on its investor-relations website, and an audio webcast will accompany the conference call. A replay is planned after the event. Its announcement supplies registration details for telephone participants and a separate audience link for the webcast, allowing investors to hear management’s discussion directly. [1]
In the same announcement, SoFi described a platform serving 15.8 million members across borrowing, saving, spending, investing and other services. It said its technology business serves more than 134 million accounts globally through banks, fintech companies and brands. These company-reported measures concern different groups and should not be read as a single consumer-membership total. [1]