SoFi Technologies (NASDAQ:SOFI) Shares Down 2.5% - Here's Why

Key Points

• SoFi Technologies' shares fell by 2.5%, trading at around $25.76 after reaching a low of $25.64, with trading volume significantly increased by 31% compared to the average.
• A recent analyst consensus suggests a rating of "Hold" for SoFi Technologies, with a target price averaging $20.18, indicating mixed sentiments among analysts.
• In its last earnings report, SoFi Technologies reported $0.08 EPS, surpassing estimates, but revenue of $519.37 million fell short of estimates of $801.94 million, reflecting ongoing financial challenges.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 2.5% during mid-day trading on Wednesday . The company traded as low as $25.64 and last traded at $25.76. Approximately 80,341,112 shares were traded during trading, an increase of 31% from the average daily volume of 61,337,754 shares. The stock had previously closed at $26.42.

Analyst Ratings Changes

A number of equities analysts recently commented on SOFI shares. Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research note on Monday, August 4th. JMP Securities restated a "market perform" rating and set a $17.00 price objective on shares of SoFi Technologies in a research report on Monday, July 14th. Barclays lifted their target price on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating on the stock. Finally, Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.18.

SoFi Technologies Stock Performance

The company has a market cap of $30.85 billion, a price-to-earnings ratio of 53.67, a P/E/G ratio of 3.27 and a beta of 1.93. 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 firm has a fifty day simple moving average of $24.77 and a 200 day simple moving average of $17.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted 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. The business had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies's revenue was up 42.8% compared to the same quarter last year. During the same period last year, the business posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the sale, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 $20,887,707.50. This trade represents a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,614 shares of company stock worth $3,452,672 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SOFI. Hazlett Burt & Watson Inc. boosted its stake in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC acquired a new stake in SoFi Technologies during the 1st quarter valued at $28,000. Garde Capital Inc. bought a new position in SoFi Technologies in the 1st quarter valued at $31,000. Finally, Larson Financial Group LLC boosted its stake in SoFi Technologies by 127.1% in the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after purchasing an additional 1,519 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

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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