SoFi Technologies (NASDAQ:SOFI) Trading Down 2.5% - Time to Sell?

Key Points

• SoFi Technologies' stock price declined by 2.5% during mid-day trading, with a last traded price of $24.91 after hitting a low of $23.70.
• Analysts have mixed ratings for SoFi, with Citigroup raising its target to $28.00 while others set targets as low as $14.00, leading to an average rating of "Hold".
• The company reported a 42.8% year-over-year revenue increase, but its current quarter revenue fell short of estimates at $519.37 million compared to a prediction of $801.94 million.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $23.70 and last traded at $24.91. 28,053,802 shares changed hands during trading, a decline of 54% from the average session volume of 61,085,730 shares. The stock had previously closed at $25.54.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SOFI shares. Morgan Stanley restated an "underweight" rating and issued a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. JMP Securities reissued a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research report on Monday, July 14th. Rothschild & Co Redburn initiated coverage on SoFi Technologies in a research report on Friday, August 1st. They set a "neutral" rating and a $20.50 target price on the stock. Truist Financial set a $23.00 target price on SoFi Technologies in a research note on Monday, August 4th. Finally, Redburn Atlantic raised SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $19.35.

SoFi Technologies Trading Up 3.6%

The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $30.39 billion, a P/E ratio of 52.88, a P/E/G ratio of 2.90 and a beta of 1.93. The firm's 50-day moving average price is $22.11 and its 200 day moving average price is $16.16.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The company's quarterly revenue was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 185,099 shares of company stock valued at $2,907,591. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently modified their holdings of the company. Hazlett Burt & Watson Inc. increased its position in shares of SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new position in SoFi Technologies in the 1st quarter valued at $28,000. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter valued at $28,000. Garde Capital Inc. bought a new stake in shares of SoFi Technologies during the 1st quarter worth $31,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies during the 4th quarter worth $32,000. 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.