SoFi Technologies (NASDAQ:SOFI) Shares Down 2.2% After Analyst Downgrade

Key Points

• SoFi Technologies shares fell 2.2% after Truist Financial cut its price target to $17 from $20 and kept a Hold rating, citing weaker assumptions for loan-platform and technology growth.
• Other analysts remain mixed on the stock, with the overall consensus still at Hold and an average price target of $22.56. Recent calls ranged from JPMorgan’s Overweight rating to TD Cowen’s lowered target and Hold stance.
• SoFi recently reported strong quarterly results, including EPS of $0.12 in line with estimates and revenue of $1.09 billion, up 42.6% year over year. Insider activity was also notable, with CEO Anthony Noto buying shares while some executives sold stock.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price traded down 2.2% during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $20.00 to $17.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as low as $15.55 and last traded at $15.90. 61,760,529 shares traded hands during trading, a decline of 3% from the average session volume of 63,980,094 shares. The stock had previously closed at $16.26.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group reissued a "neutral" rating and set a $17.00 price objective on shares of SoFi Technologies in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised SoFi Technologies from a "neutral" rating to an "overweight" rating and set a $31.00 price objective for the company in a research report on Tuesday, February 3rd. Weiss Ratings raised SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. TD Cowen dropped their target price on SoFi Technologies from $24.00 to $18.00 and set a "hold" rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $16.00 target price on SoFi Technologies in a research report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $22.56.

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto bought 28,900 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was bought at an average cost of $17.32 per share, with a total value of $500,548.00. Following the transaction, the chief executive officer directly owned 11,704,352 shares in the company, valued at $202,719,376.64. The trade was a 0.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,755 shares of SoFi Technologies stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $18.87, for a total value of $184,076.85. Following the completion of the transaction, the executive vice president directly owned 293,725 shares of the company's stock, valued at approximately $5,542,590.75. This represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 124,197 shares of company stock valued at $2,191,758 in the last three months. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies News Roundup

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: CEO Anthony Noto bought 15,545 shares of SoFi at $16.00 apiece, signaling management confidence after the stock’s steep decline. SoFi Technologies NASDAQ: SOFI CEO Anthony Noto Buys 15,545 Shares
• Positive Sentiment: SoFi reportedly acquired PrimaryBid, a U.K. capital-markets fintech, which could expand its product set and international reach. SoFi Acquires Capital Markets Partner PrimaryBid
• Neutral Sentiment: SoFi’s head of investment strategy, Liz Thomas, cautioned investors about market conditions, but the commentary was broader market advice rather than company-specific news. SoFi's Liz Thomas has a message for stock market investors
• Negative Sentiment: Truist lowered its price target on SoFi to $17 from $20 and kept a Hold rating, citing slower loan-platform assumptions and softer expectations for the technology segment. Truist Cuts SoFi Price Target to $17: Loan Platform Slowdown Pressures the Bull Case
• Negative Sentiment: Some recent coverage highlighted that SOFI remains well below prior highs and that the stock is still wrestling with a difficult year-to-date setup, keeping sentiment cautious. Here's What I Think Is Really Going On With SoFi Stock

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Valley Wealth Managers Inc. purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $25,000. Vermillion Wealth Management Inc. boosted its stake in shares of SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock valued at $26,000 after buying an additional 739 shares during the period. Blue Trust Inc. boosted its stake in shares of SoFi Technologies by 655.2% in the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock valued at $26,000 after buying an additional 878 shares during the period. Reflection Asset Management purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $28,000. Finally, Central Pacific Bank Trust Division purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Down 2.2%

The firm has a 50 day moving average price of $17.31 and a 200-day moving average price of $22.91. The company has a current ratio of 0.78, a quick ratio of 0.18 and a debt-to-equity ratio of 0.17. The firm has a market cap of $20.28 billion, a PE ratio of 36.14 and a beta of 2.12.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.05 billion. SoFi Technologies had a return on equity of 6.63% and a net margin of 14.65%.The business's quarterly revenue was up 42.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

About SoFi Technologies

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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