SoFi Technologies (NASDAQ:SOFI) Shares Down 2.8% - Time to Sell?

Key Points

• SoFi Technologies shares dropped by 2.8%, closing at $25.24, after trading as low as $24.84 with an increased trading volume of 77,987,678 shares.
• Analysts have mixed views on SoFi, with ratings ranging from "Strong Buy" to "Sell," and the average price target set at $20.18.
• The company's latest earnings report showed a $0.08 EPS, beating estimates, but revenue fell short at $519.37 million against an expected $801.94 million.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were down 2.8% on Friday . The company traded as low as $24.84 and last traded at $25.24. Approximately 77,987,678 shares traded hands during trading, an increase of 27% from the average daily volume of 61,506,410 shares. The stock had previously closed at $25.97.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SOFI shares. Keefe, Bruyette & Woods raised their price target on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SoFi Technologies in a report on Saturday, September 27th. Citizens Jmp cut SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. Needham & Company LLC lifted their target price on SoFi Technologies from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Finally, Mizuho lifted their target price on SoFi Technologies from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $20.18.

SoFi Technologies Trading Down 2.8%

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 business has a 50 day moving average of $25.03 and a 200 day moving average of $18.15. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 52.58, a PEG ratio of 3.09 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm's quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,614 shares of company stock worth $3,452,672. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

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

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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