SoFi Technologies (NASDAQ:SOFI) Reaches New 12-Month High on Strong Earnings

Key Points

• SoFi Technologies' stock reached a new 52-week high of $31.40 after reporting stronger than expected earnings, with EPS of $0.11 against expectations of $0.09, and revenue of $949.63 million compared to the forecast of $880.33 million.
• Despite recent successes, several analysts have given SoFi a "Hold" rating, with average price targets ranging from $21.18 to $29.00, indicating a mixed outlook on the stock's future performance.
• Insider trading activity has been notable, with executives selling significant amounts of stock in recent months, raising concerns about the company's future directions and performance.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $31.40 and last traded at $29.61, with a volume of 32908818 shares trading hands. The stock had previously closed at $30.00.

The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $949.63 million for the quarter, compared to analysts' expectations of $880.33 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm's quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of SoFi Technologies from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday. Truist Financial lifted their price objective on shares of SoFi Technologies from $23.00 to $29.00 and gave the company a "hold" rating in a research note on Friday. Weiss Ratings reissued a "hold (c)" rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Citizens Jmp cut shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SoFi Technologies from $14.00 to $18.00 and gave the company an "underperform" rating in a research note on Wednesday, October 15th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average price target of $21.18.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 10,036 shares of the business's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $28.33, for a total value of $284,319.88. Following the sale, the executive vice president owned 275,374 shares of the company's stock, valued at $7,801,345.42. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 129,383 shares of company stock worth $3,513,171. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. Hazlett Burt & Watson Inc. grew its stake in shares of SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new stake in SoFi Technologies during the first quarter valued at $28,000. SVB Wealth LLC bought a new stake in SoFi Technologies during the first quarter valued at $28,000. Salomon & Ludwin LLC bought a new stake in SoFi Technologies during the third quarter valued at $29,000. Finally, SJS Investment Consulting Inc. boosted its position in SoFi Technologies by 840.3% during the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company's stock valued at $30,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Down 2.1%

The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The firm has a market cap of $35.16 billion, a P/E ratio of 61.29, a PEG ratio of 3.42 and a beta of 1.92. The stock's 50-day simple moving average is $26.74 and its 200 day simple moving average is $20.05.

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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