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All eyes are on SoFi (NASDAQ:SOFI) stock heading into the weekend, as the company will report its fourth-quarter and 2023 full-year results on Monday, Jan. 29, before the market open.
The quarter is expected to be one to remember, as Wall Street analysts forecast that the personal finance company will report its highest GAAP EPS ever of zero cents. Adjusted EPS is expected to be 4 cents, which would also mark an all-time high for SoFi and the first time that the company reports a positive adjusted EPS.
For the full year, analysts expect a GAAP EPS loss of 35 cents and an adjusted EPS loss of 10 cents. Achieving profitability is a major goal for any unprofitable company and a beat on either GAAP or adjusted EPS could send SOFI stock higher.
SOFI stock carries an average price target of $9.31 per share among 18 analysts with coverage of the stock. That implies upside of about 21% from current levels.
Earnings Report and Revenue Expectations
The next metric to watch is revenue, which is the bread and butter of any company. Analysts expect Q4 revenue of $572 million, signaling year-over-year (YOY) growth of 28.89%. Full-year revenue is expected to be $2.057 million, up by 33.56% YOY. In its third-quarter earnings, SoFi had guided for full-year revenue between $2.045 billion and $2.065 billion.
Finally, we have guidance, which is just as important as EPS and revenue. For Q1 2024, analysts expect a GAAP EPS of zero cents and an adjusted EPS of 2 cents. Revenue is expected to be $570 million, a bit less than the previous quarter’s revenue but still growing by 23.89% YOY.
For the full year of 2024, analysts forecast revenue of $2.47 billion, up by 20%. 2024 is also expected to be the first year that SoFi turns a profit. GAAP EPS is expected to be 6 cents while adjusted EPS is expected to be 9 cents.
Shareholders are looking forward to a positive earnings report, as SOFI stock is down by about 20% so far this year.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.