SoFi Technologies (NASDAQ:SOFI) Hits New 52-Week High - Here's What Happened

Key Points

• SoFi Technologies shares reached a new 52-week high of $25.25 during mid-day trading, with a significant trading volume of over 101 million shares.
• Analysts have raised their target prices for SoFi, with JPMorgan increasing its target from $22.00 to $24.00, indicating a "neutral" outlook.
• The company reported quarterly earnings of $0.08 per share, surpassing expectations and reflecting a 42.8% increase in revenue compared to the previous year.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $25.25 and last traded at $25.02, with a volume of 101141610 shares trading hands. The stock had previously closed at $23.33.

Analyst Ratings Changes

A number of analysts have recently issued reports on SOFI shares. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday. Barclays boosted their target price on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Citizens Jmp lowered shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods boosted their target price on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Finally, UBS Group boosted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, SoFi Technologies has an average rating of "Hold" and a consensus target price of $19.35.

SoFi Technologies Price Performance

The firm has a market capitalization of $29.96 billion, a P/E ratio of 52.13, a P/E/G ratio of 2.89 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The stock's fifty day simple moving average is $20.32 and its 200 day simple moving average is $15.54.

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

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares in the company, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 completion of the sale, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,239 shares of company stock worth $4,123,194. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies in the 4th quarter valued at $32,000. Hazlett Burt & Watson Inc. raised its stake in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC acquired a new position in SoFi Technologies in the 1st quarter valued at $28,000. SVB Wealth LLC acquired a new position in SoFi Technologies in the 1st quarter valued at $28,000. Finally, TD Private Client Wealth LLC raised its stake in SoFi Technologies by 153.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company's stock valued at $47,000 after purchasing an additional 1,553 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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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