SoFi Technologies (NASDAQ:SOFI) Stock Price Down 1.1% - What's Next?

Key Points

• Sofi Technologies' shares declined by 1.1%, closing at $23.05, with a trading volume significantly down by 78% compared to average sessions.
• Analysts have set mixed ratings on the company, with a consensus rating of "Hold" and an average target price of $18.29.
• The company reported a 42.8% year-over-year revenue increase but fell short of analysts' expectations for revenue in the latest quarter.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price dropped 1.1% on Friday . The company traded as low as $22.61 and last traded at $23.05. Approximately 13,301,002 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 60,112,242 shares. The stock had previously closed at $23.29.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SOFI shares. Barclays boosted their target price on shares of SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Stephens initiated coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target on the stock. Mizuho set a $26.00 target price on SoFi Technologies and gave the company an "outperform" rating in a research report on Thursday, July 31st. Morgan Stanley reissued an "underweight" rating and issued a $13.00 target price (up from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods increased their price target 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.29.

SoFi Technologies Price Performance

The stock has a market cap of $27.24 billion, a PE ratio of 47.40, a PEG ratio of 3.00 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $19.78 and a 200 day moving average price of $15.36.

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, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same period in the previous year, the business earned $0.01 EPS. 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. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 10,267 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $21.80, for a total value of $223,820.60. Following the completion of the sale, the executive vice president directly owned 245,200 shares of the company's stock, valued at approximately $5,345,360. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,661 shares of company stock worth $3,889,103 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its position 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 worth $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in SoFi Technologies during the 1st quarter worth $28,000. SVB Wealth LLC acquired a new position in SoFi Technologies in the first quarter valued at $28,000. Garde Capital Inc. acquired a new stake in shares of SoFi Technologies during the first quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $32,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.