SoFi Technologies (NASDAQ:SOFI) Shares Up 4.7% - Should You Buy?

Key Points

• SoFi Technologies' stock price increased by 4.7% in recent trading, reaching as high as $26.38 after closing at $25.02.
• Equities analysts have given a consensus rating of "Hold" for the company, with a price target averaging $19.35, while the highest upgrade was from Needham & Company, raising their target to $25.00.
• SoFi reported quarterly earnings of $0.08 per share, exceeding estimates, but its revenue of $519.37 million fell short of analyst expectations of $801.94 million.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price shot up 4.7% during trading on Monday . The stock traded as high as $26.38 and last traded at $26.21. 41,208,138 shares were traded during mid-day trading, a decline of 32% from the average session volume of 60,572,617 shares. The stock had previously closed at $25.02.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Needham & Company LLC raised their price objective on SoFi Technologies from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They set a "neutral" rating and a $20.50 price target for the company. The Goldman Sachs Group assumed coverage on shares of SoFi Technologies in a report on Monday, July 14th. They issued a "neutral" rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective 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. Finally, TD Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating and a $21.00 price objective for the company. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $19.35.

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The stock has a 50 day moving average of $20.32 and a 200 day moving average of $15.54. The stock has a market capitalization of $31.16 billion, a P/E ratio of 54.23, a P/E/G ratio of 3.10 and a beta of 1.93.

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

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director directly owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 10,578 shares of the company'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 transaction of $234,091.14. Following the completion of the sale, the executive vice president directly owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,239 shares of company stock worth $4,123,194 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 100,287,485 shares of the company's stock worth $1,826,235,000 after purchasing an additional 820,190 shares during the last quarter. Two Sigma Advisers LP bought a new stake in SoFi Technologies during the fourth quarter worth approximately $299,980,000. Norges Bank bought a new stake in SoFi Technologies during the second quarter worth approximately $164,068,000. Marshall Wace LLP grew its position in SoFi Technologies by 88.2% in the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company's stock worth $145,628,000 after buying an additional 3,748,817 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 2.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,628,309 shares of the company's stock valued at $120,702,000 after buying an additional 155,583 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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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