Free Trial

SoFi Technologies (NASDAQ:SOFI) Sets New 1-Year High - Should You Buy?

SoFi Technologies logo with Finance background

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $19.29 and last traded at $19.10, with a volume of 28139130 shares trading hands. The stock had previously closed at $18.57.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SOFI shares. Truist Financial started coverage on SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 target price on the stock. JMP Securities began coverage on SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Stephens began coverage on SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. Barclays upped their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average target price of $14.73.

Read Our Latest Report on SOFI

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The company has a 50-day moving average price of $14.52 and a 200-day moving average price of $14.05. The firm has a market capitalization of $21.27 billion, a PE ratio of 46.93, a P/E/G ratio of 3.15 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same period in the prior year, the business earned $0.02 earnings per share. The business's revenue was up 32.7% on a year-over-year basis. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 10,267 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.22, for a total transaction of $156,263.74. Following the transaction, the executive vice president directly owned 255,467 shares in the company, valued at approximately $3,888,207.74. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the 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 transaction, the chief technology officer owned 724,321 shares in the company, valued at $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. Insiders have sold 274,095 shares of company stock worth $3,939,168 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the business. Berkshire Capital Holdings Inc. raised its holdings in shares of SoFi Technologies by 6,208,000.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after purchasing an additional 620,800 shares during the period. CMG Global Holdings LLC raised its holdings in shares of SoFi Technologies by 77.8% in the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after purchasing an additional 61,443 shares during the period. Midwest Professional Planners LTD. purchased a new position in shares of SoFi Technologies in the 4th quarter worth about $836,000. Geode Capital Management LLC raised its holdings in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth about $259,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

(Get Free Report)

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.

Featured Articles

Should You Invest $1,000 in SoFi Technologies Right Now?

Before you consider SoFi Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SoFi Technologies wasn't on the list.

While SoFi Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Made in America Stocks Under $20 You Need to See!
3 Cheap Growth Stocks Set to Explode This Summer
The Next NVIDIA? Quantum Computing Stocks Set for Explosive Growth

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines