SoFi Technologies (NASDAQ:SOFI) Shares Gap Up - What's Next?

Key Points

• SoFi shares opened sharply higher, rising from a previous close of $16.97 to $17.92 before trading near $17.15 on heavy volume.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $22.52 price target, with recent targets ranging from $15 to $25.
• SoFi reported strong quarterly results, with EPS of $0.12 versus $0.11 expected and revenue of $1.21 billion, up 42.5% year over year; analysts expect roughly $0.61 in full-year EPS.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $16.97, but opened at $17.92. SoFi Technologies shares last traded at $17.1460, with a volume of 27,467,270 shares trading hands.

Analysts Set New Price Targets

SOFI has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a research report on Thursday, July 30th. Scotiabank began 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 target for the company. Weiss Ratings raised shares of SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Needham & Company LLC lowered their price objective on shares of SoFi Technologies from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, Wells Fargo & Company cut their target price on SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Nine investment analysts have rated the stock with 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 company presently has a consensus rating of "Hold" and a consensus price target of $22.52.

SoFi Technologies Stock Performance

The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 1.39 and a beta of 2.20. The stock's fifty day simple moving average is $17.68 and its 200-day simple moving average is $17.34.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the company earned $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. Analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares in the company, valued at approximately $6,415,956. This represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cary Street Partners Investment Advisory LLC grew its position in SoFi Technologies by 21.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,880 shares of the company's stock valued at $75,000 after buying an additional 503 shares in the last quarter. Capital Advisors Inc. OK boosted its holdings in shares of SoFi Technologies by 2.2% in the second quarter. Capital Advisors Inc. OK now owns 28,324 shares of the company's stock valued at $508,000 after acquiring an additional 615 shares in the last quarter. Mayflower Financial Advisors LLC boosted its holdings in shares of SoFi Technologies by 2.3% in the first quarter. Mayflower Financial Advisors LLC now owns 29,202 shares of the company's stock valued at $464,000 after acquiring an additional 653 shares in the last quarter. CX Institutional increased its stake in shares of SoFi Technologies by 36.2% during the second quarter. CX Institutional now owns 2,477 shares of the company's stock valued at $44,000 after acquiring an additional 658 shares during the period. Finally, MCF Advisors LLC raised its holdings in SoFi Technologies by 27.7% during the fourth quarter. MCF Advisors LLC now owns 3,126 shares of the company's stock worth $82,000 after purchasing an additional 678 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

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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