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

Key Points

• JPMorgan Chase & Co. has raised its price target for SoFi Technologies from $24.00 to $26.00, maintaining a "neutral" rating on the stock, which suggests a potential downside of 7.41% from its previous close.
• SoFi Technologies recently reported earnings of $0.08 per share, exceeding analysts' expectations, with quarterly revenue up 42.8% year-over-year.
• Institutional investors and hedge funds currently hold 38.43% of SoFi's stock, with notable increases in positions from groups like Vanguard and Blair William & Co.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $24.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 7.41% from the company's previous close.

A number of other research firms also recently issued reports on SOFI. Morgan Stanley lifted their target price on SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a research report on Monday, September 29th. Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. The Goldman Sachs Group lifted their target price on SoFi Technologies from $21.00 to $24.00 and gave the stock a "neutral" rating in a research note on Monday, October 13th. Rothschild & Co Redburn initiated coverage on SoFi Technologies in a report on Friday, August 1st. They set a "neutral" rating and a $20.50 target price on the stock. Finally, TD Cowen initiated coverage on SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating and a $21.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.82.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $28.08 on Friday. 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's 50-day simple moving average is $26.52 and its 200 day simple moving average is $19.65. The company has a market cap of $33.62 billion, a P/E ratio of 58.50, a P/E/G ratio of 3.23 and a beta of 1.92. SoFi Technologies has a 52-week low of $8.60 and a 52-week high of $30.30.

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

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,383 shares of company stock worth $3,513,171 in the last ninety days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. Sullivan Wood Capital Management LLC bought a new stake in shares of SoFi Technologies in the second quarter valued at approximately $2,799,000. Blair William & Co. IL boosted its stake in shares of SoFi Technologies by 443.9% in the second quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock valued at $6,113,000 after buying an additional 273,972 shares during the period. CMG Global Holdings LLC boosted its stake in shares of SoFi Technologies by 77.8% in the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after buying an additional 61,443 shares during the period. Finally, Nicholas Wealth LLC. bought a new stake in shares of SoFi Technologies in the first quarter valued at approximately $993,000. 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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