SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $24.00

Key Points

• The Goldman Sachs Group has raised its price target for SoFi Technologies from $21.00 to $24.00, maintaining a "neutral" rating despite predicting a potential downside of 11.08% from the current share price.
• SoFi Technologies reported a net margin of 18.38% and earnings per share (EPS) of $0.08 for the last quarter, exceeding expectations but falling short of revenue estimates with $519.37 million.
• Insider transactions revealed that executives have sold significant shares recently, with CTO Jeremy Rishel reducing his holdings by 11.50% after selling 98,733 shares at an average price of $27.50.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target upped by equities researchers at The Goldman Sachs Group from $21.00 to $24.00 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price suggests a potential downside of 11.08% from the company's previous close.

Several other equities analysts also recently commented on the stock. Keefe, Bruyette & Woods increased their price objective 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. Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective for the company. Morgan Stanley increased their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a research note on Monday, September 29th. Finally, Barclays upped their price target on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and a consensus target price of $20.47.

SoFi Technologies Stock Performance

Shares of SOFI stock traded up $0.80 during midday trading on Monday, hitting $26.99. 38,050,314 shares of the company were exchanged, compared to its average volume of 62,251,102. The firm has a market capitalization of $32.32 billion, a P/E ratio of 56.18, a PEG ratio of 3.11 and a beta of 1.92. 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 firm's 50 day moving average price is $25.59 and its two-hundred day moving average price is $18.73. 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 announced its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping 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 business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. During the same quarter in the previous year, the firm posted $0.01 EPS. SoFi Technologies's revenue 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. As a group, equities research analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction 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. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the sale, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,614 shares of company stock valued at $3,452,672 over the last quarter. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in SOFI. Bartlett & CO. Wealth Management LLC lifted its position in SoFi Technologies by 46.9% during the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company's stock valued at $39,000 after acquiring an additional 469 shares during the period. Soltis Investment Advisors LLC increased its stake in SoFi Technologies by 1.8% during the 2nd quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company's stock valued at $518,000 after purchasing an additional 501 shares in the last quarter. AE Wealth Management LLC increased its position in shares of SoFi Technologies by 2.8% during the second quarter. AE Wealth Management LLC now owns 18,620 shares of the company's stock valued at $339,000 after acquiring an additional 514 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of SoFi Technologies by 1.1% during the second quarter. Pathway Financial Advisers LLC now owns 47,319 shares of the company's stock valued at $862,000 after acquiring an additional 537 shares in the last quarter. Finally, Burney Co. raised its holdings in SoFi Technologies by 0.4% in the 2nd quarter. Burney Co. now owns 147,136 shares of the company's stock worth $2,679,000 after acquiring an additional 557 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

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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