SoFi Technologies (NASDAQ:SOFI) Shares Up 1.4% - Time to Buy?

Key Points

• SoFi shares rose 1.4% to $16.96 in midday trading, though volume was 33% below the average session level.
• Analyst sentiment remains mixed: nine analysts rate the stock a Buy, 11 a Hold and three a Sell. The consensus rating is Hold, with a $22.52 price target.
• SoFi reported strong quarterly results, including $0.12 EPS versus $0.11 expected and $1.21 billion in revenue, up 42.5% year over year. However, insiders sold 33,194 shares over the past 90 days.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price rose 1.4% during mid-day trading on Friday . The stock traded as high as $17.06 and last traded at $16.96. Approximately 43,961,549 shares traded hands during trading, a decline of 33% from the average session volume of 65,596,297 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research reports. Truist Financial raised their price target on SoFi Technologies from $18.00 to $19.00 and gave the stock a "hold" rating in a research note on Wednesday, August 12th. Scotiabank started coverage on shares of SoFi Technologies in a research report on Wednesday, September 2nd. They issued a "sector outperform" rating and a $25.00 price target for the company. Needham & Company LLC decreased their price target on shares of SoFi Technologies from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. 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 objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. Nine equities research 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, SoFi Technologies currently has a consensus rating of "Hold" and a consensus price target of $22.52.

SoFi Technologies Price Performance

The firm has a market cap of $21.91 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 1.38 and a beta of 2.20. The company has a 50 day moving average price of $17.74 and a 200 day moving average price of $17.36. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating 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 firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company earned $0.08 EPS. The firm'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. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the sale, the executive vice president directly owned 356,442 shares in the company, valued at $6,415,956. This 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 is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,194 shares of company stock valued at $581,499 over the last ninety days. Insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. BlackRock Inc. acquired a new position in SoFi Technologies in the second quarter valued at $1,298,925,000. Norges Bank purchased a new position in shares of SoFi Technologies in the 4th quarter worth about $321,515,000. Bank of America Corp DE purchased a new position in shares of SoFi Technologies in the 2nd quarter worth about $163,808,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at about $93,937,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of SoFi Technologies during the 2nd quarter worth about $72,531,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

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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