SoFi Technologies (NASDAQ:SOFI) Price Target Lowered to $17.00 at Truist Financial

Key Points

• Truist Financial cut SoFi Technologies’ price target from $20 to $17 while keeping a Hold rating, implying only modest upside from current levels.
• Other analysts have been mixed on SOFI, with several recent price-target reductions, though the overall consensus remains Hold and the average target is $22.56.
• SoFi recently reported earnings and revenue above expectations, with Q1 EPS of $0.12 matching estimates and revenue rising 42.6% year over year to $1.09 billion.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective decreased by equities researchers at Truist Financial from $20.00 to $17.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target points to a potential upside of 5.43% from the company's current price.

Several other brokerages also recently weighed in on SOFI. Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $20.00 to $17.00 and set an "underperform" rating for the company in a research note on Thursday, April 9th. Mizuho set a $29.00 price objective on SoFi Technologies in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price objective on SoFi Technologies from $19.00 to $18.00 and set an "equal weight" rating for the company in a research report on Thursday, April 9th. JPMorgan Chase & Co. upgraded SoFi Technologies from a "neutral" rating to an "overweight" rating and set a $31.00 target price on the stock in a research note on Tuesday, February 3rd. Finally, TD Cowen reduced their target price on SoFi Technologies from $24.00 to $18.00 and set a "hold" rating on the stock in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $22.56.

SoFi Technologies Price Performance

SOFI opened at $16.13 on Tuesday. The firm has a market capitalization of $20.56 billion, a PE ratio of 36.71 and a beta of 2.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.78 and a quick ratio of 0.18. The business's 50-day moving average is $17.31 and its two-hundred day moving average is $22.91. SoFi Technologies has a 1 year low of $12.74 and a 1 year high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.63%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm posted $0.06 earnings per share. The company's quarterly revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Research analysts anticipate that SoFi Technologies will post 0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 94,958 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total value of $1,655,117.94. Following the transaction, the chief technology officer directly owned 839,640 shares of the company's stock, valued at $14,634,925.20. This represents a 10.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,755 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $18.87, for a total value of $184,076.85. Following the completion of the transaction, the executive vice president owned 293,725 shares of the company's stock, valued at $5,542,590.75. This trade represents a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 124,197 shares of company stock valued at $2,191,758. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SOFI. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after purchasing an additional 3,900,895 shares during the period. State Street Corp raised its position in SoFi Technologies by 6.7% during the 4th quarter. State Street Corp now owns 25,937,928 shares of the company's stock worth $679,055,000 after buying an additional 1,637,430 shares during the last quarter. Geode Capital Management LLC raised its position in SoFi Technologies by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock worth $618,395,000 after buying an additional 1,951,248 shares during the last quarter. Morgan Stanley lifted its stake in SoFi Technologies by 33.6% during the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock valued at $348,806,000 after acquiring an additional 3,350,258 shares during the period. Finally, Norges Bank acquired a new stake in SoFi Technologies during the 4th quarter valued at approximately $321,515,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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