Monness Crespi & Hardt Initiates Coverage on SoFi Technologies (NASDAQ:SOFI)

Key Points

• Monness Crespi & Hardt initiated coverage of SoFi Technologies with a “buy” rating and a $20 price target, implying 36.89% potential upside from the reported $14.61 share price.
• Analyst opinions remain mixed: SoFi has a consensus “hold” rating and an average price target of $21.95, based on two Strong Buy, ten Buy, eleven Hold, and three Sell ratings.
• SoFi reported quarterly revenue of $1.21 billion, up 42.5% year over year, and earnings of $0.12 per share, exceeding the $0.11 consensus estimate.

Analysts at Monness Crespi & Hardt began coverage on shares of SoFi Technologies (NASDAQ:SOFI - Get Free Report) in a report released on Monday, Briefing.com reports. The brokerage set a "buy" rating and a $20.00 price target on the stock. Monness Crespi & Hardt's target price suggests a potential upside of 36.89% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated an "underperform" rating on shares of SoFi Technologies in a research report on Monday, October 12th. Loop Capital assumed coverage on shares of SoFi Technologies in a research note on Tuesday, September 8th. They issued a "hold" rating and a $22.00 price target for the company. Mizuho decreased their price target on shares of SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Scotiabank initiated coverage on shares of SoFi Technologies in a research report on Wednesday, September 2nd. They set a "sector outperform" rating and a $25.00 price objective on the stock. Finally, Truist Financial lowered their price objective on shares of SoFi Technologies from $19.00 to $16.00 and set a "hold" rating on the stock in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.95.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $14.61 on Monday. The firm has a market capitalization of $18.87 billion, a P/E ratio of 30.44, a P/E/G ratio of 0.85 and a beta of 2.33. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The stock's 50-day simple moving average is $16.74 and its two-hundred day simple moving average is $17.08. SoFi Technologies has a twelve month low of $13.86 and a twelve month high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the firm posted $0.08 EPS. The company's revenue was up 42.5% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities analysts anticipate that SoFi Technologies will post 0.60 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares of the company's stock, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of SoFi Technologies stock in a transaction on Monday, September 21st. The stock was sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the transaction, the chief technology officer owned 912,650 shares in the company, valued at approximately $15,971,375. The trade was a 2.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 50,316 shares of company stock worth $852,605 over the last three months. Insiders own 2.50% of the company's stock.

Institutional Trading of SoFi Technologies

Several hedge funds have recently added to or reduced their stakes in SOFI. Apollon Wealth Management LLC boosted its position in SoFi Technologies by 38.6% during the third quarter. Apollon Wealth Management LLC now owns 24,456 shares of the company's stock valued at $384,000 after buying an additional 6,813 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of SoFi Technologies by 7.6% during the third quarter. Kingswood Wealth Advisors LLC now owns 18,281 shares of the company's stock valued at $287,000 after buying an additional 1,291 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of SoFi Technologies by 1.9% in the third quarter. Sigma Planning Corp now owns 81,327 shares of the company's stock worth $1,347,000 after buying an additional 1,549 shares during the period. Signaturefd LLC increased its holdings in shares of SoFi Technologies by 16.9% in the third quarter. Signaturefd LLC now owns 12,211 shares of the company's stock worth $192,000 after buying an additional 1,765 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of SoFi Technologies by 23.9% in the third quarter. Citizens Financial Group Inc. RI now owns 24,253 shares of the company's stock worth $381,000 after buying an additional 4,686 shares during the period. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi's offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.

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