JPMorgan Chase & Co. Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

Key Points

• JPMorgan Chase & Co. raised its target price for SoFi Technologies from $22.00 to $24.00, indicating a potential upside of 9.75% from its current price.
• The stock currently holds a multitude of ratings: one Strong Buy, six Buy, eleven Hold, and three Sell, reflecting varied analyst perspectives on its performance.
• SoFi reported a 42.8% year-over-year revenue growth in its latest quarterly earnings, achieving $519.37 million, although it fell short of analyst expectations.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its target price lifted by research analysts at JPMorgan Chase & Co. from $22.00 to $24.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 9.75% from the company's current price.

Several other research firms have also issued reports on SOFI. Truist Financial set a $23.00 price objective on SoFi Technologies in a research note on Monday, August 4th. Morgan Stanley reiterated an "underweight" rating and issued a $13.00 price objective (up previously from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. Redburn Atlantic raised SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. Citizens Jmp cut SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. Finally, Barclays boosted their price target on SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $18.76.

SoFi Technologies Stock Performance

NASDAQ:SOFI traded down $0.8830 during trading hours on Wednesday, reaching $21.8670. The stock had a trading volume of 35,158,777 shares, compared to its average volume of 60,165,469. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The stock has a 50 day simple moving average of $19.78 and a 200 day simple moving average of $15.36. SoFi Technologies has a 12-month low of $6.75 and a 12-month high of $25.11. The stock has a market cap of $26.18 billion, a P/E ratio of 45.59, a price-to-earnings-growth ratio of 3.00 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same period last year, the company earned $0.01 earnings per share. The business's revenue for the quarter was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, research analysts forecast that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,267 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $21.80, for a total transaction of $223,820.60. Following the sale, the executive vice president directly owned 245,200 shares of the company's stock, valued at approximately $5,345,360. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,661 shares of company stock valued at $3,889,103 over the last three months. 2.60% of the stock is owned by insiders.

Institutional Trading of SoFi Technologies

A number of large investors have recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its stake in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in SoFi Technologies during the 1st quarter valued at about $28,000. SVB Wealth LLC bought a new position in shares of SoFi Technologies during the 1st quarter valued at about $28,000. Garde Capital Inc. bought a new position in shares of SoFi Technologies during the 1st quarter valued at about $31,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 38.43% of the company's stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.

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