SoFi Technologies (NASDAQ:SOFI) Shares Up 7.4% - Time to Buy?

Key Points

• SoFi shares jumped 7.4% on heavy trading volume, with the stock reaching as high as $18.59 as investors reacted to renewed momentum in the name.
• News flow was broadly positive, led by the launch of SoFiUSD, a bank-issued U.S. dollar stablecoin available to about 15 million customers, which could deepen engagement across SoFi’s app ecosystem.
• Despite the rally, some analysts note the move is partly a technical breakout and momentum trade, while Wall Street’s consensus remains only Hold with an average price target of $22.56.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 7.4% during trading on Friday . The stock traded as high as $18.59 and last traded at $18.22. 149,528,935 shares changed hands during mid-day trading, an increase of 132% from the average session volume of 64,570,246 shares. The stock had previously closed at $16.97.

SoFi Technologies News Roundup

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

• Positive Sentiment: SoFi launched SoFiUSD, a bank-issued U.S. dollar stablecoin, and made it available to roughly 15 million customers, giving the company a new crypto-adjacent product and another way to deepen engagement inside its app. Article Title
• Positive Sentiment: Investors appear to be rewarding the company’s expanding ecosystem, with coverage highlighting strong growth in members and products, which supports the view that SoFi is broadening its financial platform beyond lending. Article Title
• Positive Sentiment: The stock also drew unusual call-option buying, suggesting traders are positioning for further upside and reinforcing the recent momentum trade.
• Neutral Sentiment: Some commentary noted that SoFi’s stablecoin could face scaling headwinds over time, which may limit enthusiasm if adoption or usage growth proves slower than expected. Article Title
• Neutral Sentiment: Analyst and market coverage also emphasized that the recent move is being driven in part by a technical breakout and momentum recovery after a sharp year-to-date decline, rather than by a single fundamental earnings update. Article Title

Wall Street Analyst Weigh In

Several brokerages have commented on SOFI. JPMorgan Chase & Co. raised SoFi Technologies from a "neutral" rating to an "overweight" rating and set a $31.00 price objective on the stock in a research report on Tuesday, February 3rd. Stephens cut their price objective on SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Weiss Ratings downgraded SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday. Argus assumed coverage on SoFi Technologies in a research report on Wednesday, April 15th. They issued a "hold" rating on the stock. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $17.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.56.

SoFi Technologies Stock Up 7.4%

The firm has a market capitalization of $23.37 billion, a PE ratio of 41.41 and a beta of 2.12. The company has a fifty day simple moving average of $16.67 and a two-hundred day simple moving average of $21.67. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the business earned $0.06 EPS. The business's revenue for the quarter was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,037 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $15.53, for a total value of $155,874.61. Following the completion of the sale, the executive vice president directly owned 323,247 shares in the company, valued at approximately $5,020,025.91. This represents a 3.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 94,958 shares of the company's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total value of $1,655,117.94. Following the sale, the chief technology officer owned 839,640 shares of the company's stock, valued at $14,634,925.20. This trade represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 124,479 shares of company stock worth $2,163,556. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 6.8% in the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company's stock worth $2,829,640,000 after buying an additional 6,814,727 shares during the last quarter. Firsthand Capital Management Inc. boosted its stake in shares of SoFi Technologies by 60.0% in the third quarter. Firsthand Capital Management Inc. now owns 80,000 shares of the company's stock worth $2,114,000 after buying an additional 30,000 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of SoFi Technologies by 161.6% in the fourth quarter. SG Americas Securities LLC now owns 902,392 shares of the company's stock worth $23,625,000 after buying an additional 557,390 shares during the last quarter. North Dakota State Investment Board purchased a new stake in shares of SoFi Technologies in the fourth quarter worth about $1,044,000. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of SoFi Technologies by 212.2% in the third quarter. Thoroughbred Financial Services LLC now owns 40,140 shares of the company's stock worth $1,060,000 after buying an additional 27,283 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

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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