SoFi Technologies (NASDAQ:SOFI) Shares Down 4.4% - What's Next?

Key Points

• SoFi Technologies stock experienced a 4.4% decline, trading down to $24.25 from a previous close of $25.38, with a significant drop in trading volume.
• Multiple analysts have updated their price targets for SOFI, with estimates ranging from $14.00 to $25.00, and a consensus rating of "Hold" with a price target of $19.35.
• The company's recent earnings report showed a revenue of $519.37 million, falling short of the consensus estimate, but with an earnings per share of $0.08, slightly above expectations.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price fell 4.4% during trading on Friday . The company traded as low as $24.21 and last traded at $24.25. 25,369,939 shares were traded during mid-day trading, a decline of 58% from the average session volume of 60,990,957 shares. The stock had previously closed at $25.38.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SOFI. Cowen began coverage on SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating for the company. Citigroup lifted their target price on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a report on Friday, August 1st. The Goldman Sachs Group began coverage on SoFi Technologies in a report on Monday, July 14th. They issued a "neutral" rating and a $19.00 target price for the company. Finally, Morgan Stanley reiterated 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and a consensus target price of $19.35.

SoFi Technologies Trading Up 0.9%

The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $22.27 and a two-hundred day simple moving average of $16.23. The firm has a market capitalization of $30.65 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 3.03 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share 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 analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.SoFi Technologies's revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares of the company's stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,099 shares of company stock valued at $2,907,591 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Soltis Investment Advisors LLC increased its holdings in shares of SoFi Technologies by 1.8% in the 2nd quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company's stock valued at $518,000 after acquiring an additional 501 shares during the period. AE Wealth Management LLC increased its holdings in shares of SoFi Technologies by 2.8% in the 2nd quarter. AE Wealth Management LLC now owns 18,620 shares of the company's stock valued at $339,000 after acquiring an additional 514 shares during the period. Pathway Financial Advisers LLC increased its holdings in shares of SoFi Technologies by 1.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 47,319 shares of the company's stock valued at $862,000 after acquiring an additional 537 shares during the period. Burney Co. increased its holdings in shares of SoFi Technologies by 0.4% in the 2nd quarter. Burney Co. now owns 147,136 shares of the company's stock valued at $2,679,000 after acquiring an additional 557 shares during the period. Finally, Drive Wealth Management LLC increased its holdings in shares of SoFi Technologies by 1.4% in the 2nd quarter. Drive Wealth Management LLC now owns 40,546 shares of the company's stock valued at $738,000 after acquiring an additional 563 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

About SoFi Technologies

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.