SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.7% After Analyst Downgrade

Key Points

• SoFi Technologies shares fell 3.7% after Truist Financial cut its price target to $17 from $20 and kept a Hold rating. The stock traded as low as $15.22 during the session.
• Analyst opinions remain mixed, with the broader consensus sitting at Hold and an average target price of $22.56. While some firms have been more bullish, several others recently trimmed targets or maintained neutral views.
• Recent company developments include CEO Anthony Noto buying 15,545 shares, signaling insider confidence, while SoFi also reported solid quarterly results with revenue up 42.6% year over year and earnings matching estimates.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares fell 3.7% during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $20.00 to $17.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as low as $15.22 and last traded at $15.31. 58,599,431 shares traded hands during trading, a decline of 8% from the average session volume of 63,881,340 shares. The stock had previously closed at $15.90.

A number of other brokerages have also weighed in on SOFI. JPMorgan Chase & Co. upgraded 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. TD Cowen cut their price objective on SoFi Technologies from $24.00 to $18.00 and set a "hold" rating on the stock in a research report on Thursday, April 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research report on Thursday, April 30th. UBS Group cut their price objective on SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Finally, Mizuho set a $29.00 price objective on SoFi Technologies in a research report on Wednesday, May 6th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.56.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,742 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $19.25, for a total transaction of $187,533.50. Following the sale, the executive vice president directly owned 333,284 shares in the company, valued at $6,415,717. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto purchased 15,545 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the completion of the transaction, the chief executive officer directly owned 11,946,619 shares of the company's stock, valued at $191,145,904. This represents a 0.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 124,197 shares of company stock worth $2,191,758 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Trending Headlines about SoFi Technologies

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

• Positive Sentiment: CEO Anthony Noto bought 15,545 shares of SoFi stock, a sign of insider confidence that can help support investor sentiment. SoFi Technologies NASDAQ: SOFI CEO Anthony Noto Buys 15,545 Shares
• Positive Sentiment: SoFi announced monthly distributions for its THTA ETF, which reinforces its growing presence in investing and ETF products. SoFi Announces Monthly Distributions on $THTA (10.00%)
• Positive Sentiment: SoFi agreed to acquire a majority stake in U.K. fintech PrimaryBid, expanding its capital markets capabilities and international reach. SoFi Buys PrimaryBid As Retail Market Access And Valuation Questions Meet
• Neutral Sentiment: Broader fintech spending trends remain supportive, with U.S. consumer spending and financial services spending continuing to run at record levels, which could help demand across SoFi’s product categories. U.S. Consumer Spending Tops $21.86T: 5 Fintech Stocks Under $75
• Neutral Sentiment: SoFi’s recent earnings were solid, with revenue and EPS meeting or beating expectations, but investors are focused more on forward growth in lending and platform economics.
• Negative Sentiment: Truist cut its price target on SoFi to $17 from $20 and kept a Hold rating, citing slower loan platform growth and softer expectations for parts of the business. Truist Cuts SoFi Price Target to $17: Loan Platform Slowdown Pressures the Bull Case

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently made changes to their positions in SOFI. Valley Wealth Managers Inc. purchased a new position in SoFi Technologies during the fourth quarter valued at $25,000. Blue Trust Inc. raised its stake in SoFi Technologies by 655.2% during the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock valued at $26,000 after buying an additional 878 shares during the last quarter. Vermillion Wealth Management Inc. raised its stake in SoFi Technologies by 283.1% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock valued at $26,000 after buying an additional 739 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in SoFi Technologies during the fourth quarter valued at $28,000. Finally, Reflection Asset Management purchased a new position in SoFi Technologies during the fourth quarter valued at $28,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Down 3.7%

The stock has a 50 day simple moving average of $17.27 and a 200-day simple moving average of $22.83. The firm has a market cap of $19.52 billion, a PE ratio of 34.80 and a beta of 2.12. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.18.

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

About SoFi Technologies

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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