SoFi Technologies, Inc. (NASDAQ:SOFI) Given Average Rating of "Hold" by Brokerages

Key Points

• SoFi Technologies has a consensus “Hold” rating from 23 analysts: 11 holds, nine buys and three sells. The average 12-month price target is $22.53, above the reported share price of $16.96.
• Recent analyst views were mixed, with targets ranging from $15 to $25. Piper Sandler and Scotiabank initiated bullish coverage, while Morgan Stanley maintained an “underweight” rating and cut its target to $15.
• SoFi exceeded quarterly expectations, reporting $0.12 in EPS versus $0.11 expected and $1.21 billion in revenue, up 42.5% year over year. An executive also sold 11,286 shares under a pre-arranged trading plan.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty-three research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $22.5250.

A number of brokerages recently weighed in on SOFI. Piper Sandler started coverage on shares of SoFi Technologies in a report on Monday, August 17th. They issued an "overweight" rating and a $22.00 price target for the company. Mizuho lowered their target price on SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Morgan Stanley cut their price target on SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating on the stock in a research note on Thursday, July 30th. Scotiabank initiated coverage on SoFi Technologies in a research report on Wednesday, September 2nd. They issued a "sector outperform" rating and a $25.00 price objective for the company. Finally, Truist Financial upped their target price on shares of SoFi Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Wednesday, August 12th.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president directly owned 356,442 shares of the company's stock, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the stock. Vermillion Wealth Management Inc. increased its position in shares of SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock valued at $26,000 after buying an additional 739 shares in the last quarter. Reflection Asset Management bought a new stake in SoFi Technologies in the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC boosted its holdings in SoFi Technologies by 232.1% during the first quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company's stock worth $34,000 after purchasing an additional 1,467 shares during the last quarter. Compass Financial Management LLC acquired a new position in shares of SoFi Technologies during the 2nd quarter worth about $34,000. Finally, SHP Wealth Management acquired a new position in SoFi Technologies during the fourth quarter valued at approximately $36,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $16.96 on Monday. SoFi Technologies has a 12 month low of $14.88 and a 12 month high of $32.73. The company's 50-day moving average price is $17.70 and its two-hundred day moving average price is $17.35. 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 firm has a market cap of $21.91 billion, a P/E ratio of 35.33, a P/E/G ratio of 1.39 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.08 earnings per share. The company's revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, research analysts forecast that SoFi Technologies will post 0.61 EPS for the current fiscal year.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.

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