SoFi Technologies (NASDAQ:SOFI) Reaches New 1-Year High - Time to Buy?

Key Points

• SoFi Technologies shares reached a new 52-week high at $27.77 during trading, reflecting significant investor interest and stock activity.
• The company reported $0.08 EPS for the last quarter, surpassing analysts' expectations, but its revenue fell short of forecasts at $519.37 million.
• Analysts show mixed ratings for SoFi, with a consensus rating of "Hold" and an average price target of $19.59, indicating potential caution among investors.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.77 and last traded at $27.67, with a volume of 66474281 shares changing hands. The stock had previously closed at $26.55.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Cowen assumed coverage on SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating for the company. 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. TD Cowen assumed coverage on SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating and a $21.00 price target for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $13.00 price target (up previously from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. Finally, Citigroup lifted their target price on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $19.59.

SoFi Technologies Stock Performance

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 has a 50-day simple moving average of $23.22 and a 200-day simple moving average of $16.73. The stock has a market cap of $33.13 billion, a P/E ratio of 57.65, a PEG ratio of 3.14 and a beta of 1.93.

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

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was 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. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction dated 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 trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,959 shares of company stock worth $1,653,646. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. Hazlett Burt & Watson Inc. boosted its holdings in SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new stake in SoFi Technologies in the first quarter valued at approximately $28,000. SVB Wealth LLC bought a new stake in SoFi Technologies in the first quarter valued at approximately $28,000. Garde Capital Inc. bought a new stake in SoFi Technologies in the first quarter valued at approximately $31,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $32,000. 38.43% of the stock is currently owned by institutional investors.

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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