SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $28.00 at Citigroup

Key Points

• Citigroup has raised its price target for SoFi Technologies from $18.00 to $28.00, indicating a potential upside of 26.16% from the stock's previous close.
• SoFi Technologies recently reported earnings of $0.08 EPS, exceeding analyst expectations of $0.06 EPS, while its revenue for the quarter was $519.37 million, below estimates of $801.94 million.
• Analyst ratings for SoFi are mixed, with one Strong Buy, six Buy, eleven Hold, and three Sell ratings, resulting in a consensus target price of $19.35.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective lifted by research analysts at Citigroup from $18.00 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 26.16% from the company's previous close.

Several other equities research analysts also recently weighed in on SOFI. UBS Group increased their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. JMP Securities reaffirmed a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a research note on Monday, July 14th. They issued a "neutral" rating and a $19.00 price objective on the stock. Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating for the company. Finally, Morgan Stanley reissued an "underweight" rating and set a $13.00 price target (up from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.35.

SoFi Technologies Stock Performance

NASDAQ SOFI traded down $0.5560 during trading hours on Wednesday, hitting $22.1940. The company had a trading volume of 53,475,170 shares, compared to its average volume of 60,305,031. The business has a 50 day moving average of $19.78 and a 200-day moving average of $15.36. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. SoFi Technologies has a 1-year low of $6.75 and a 1-year high of $25.11. The company has a market cap of $26.58 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 3.00 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly 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. The company had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm's revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities research analysts expect that SoFi Technologies will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $21.80, for a total transaction of $223,820.60. Following the completion of the transaction, the executive vice president owned 245,200 shares in the company, valued at approximately $5,345,360. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 261,661 shares of company stock valued at $3,889,103 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the stock. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies in the 4th quarter valued at about $32,000. Hazlett Burt & Watson Inc. lifted its stake in shares of SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new position in shares of SoFi Technologies during the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies in the first quarter valued at $28,000. Finally, TD Private Client Wealth LLC grew its holdings 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 buying an additional 1,553 shares during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.

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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