SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2% - Here's What Happened

Key Points

• SoFi Technologies shares rose 2% on Monday, briefly touching $18.80, with trading volume jumping to nearly 95.9 million shares, about 48% above its average daily volume.
• The stock has gained about 17% over the past five trading days, and the surge in volume has fueled speculation that investors may be showing stronger conviction in the move.
• Despite the recent rally, Wall Street remains cautious: SoFi’s analyst consensus is still “Hold”, with a target price of $22.56, while the company also reported solid quarterly results, including 42.6% year-over-year revenue growth.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 2% on Monday . The company traded as high as $18.80 and last traded at $18.58. Approximately 95,896,526 shares were traded during trading, an increase of 48% from the average daily volume of 64,891,320 shares. The stock had previously closed at $18.22.

Key SoFi Technologies News

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

• Positive Sentiment: SOFI climbed about 17% over five trading days, with unusually heavy volume on the last session, suggesting strong buying interest and possible institutional conviction behind the move. What's Happening With SOFI Stock?
• Positive Sentiment: Retail and market watchers are discussing SoFi as a potential future S&P 500 addition, which can fuel speculative demand if investors start pricing in index inclusion. Could SoFi Stock Finally Be The Next S&P 500 Addition? Here’s What Retail Thinks
• Positive Sentiment: SoFi is getting more investor attention online, which often supports near-term trading momentum in high-beta stocks like SOFI. Investors Heavily Search SoFi Technologies, Inc. (SOFI): Here is What You Need to Know
• Positive Sentiment: Commentary highlighting SoFi’s shift from student loans to a broader fintech platform is reinforcing the bullish long-term narrative for the company. Inside SoFi’s shocking transformation from student loan company to fintech powerhouse
• Neutral Sentiment: Articles questioning whether SOFI can double this year may not move fundamentals, but they keep the stock in focus and underscore how much optimism is already embedded in the name. Prediction: Will SoFi Stock Double This Year?

Wall Street Analyst Weigh In

SOFI has been the topic of a number of recent analyst reports. Morgan Stanley set a $16.00 price target on SoFi Technologies in a report on Thursday, April 30th. Mizuho set a $29.00 price target on SoFi Technologies in a report on Wednesday, May 6th. Argus began coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They set a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $18.00 price objective on shares of SoFi Technologies in a research note on Thursday, April 30th. Finally, Truist Financial lowered their price objective on shares of SoFi Technologies from $20.00 to $17.00 and set a "hold" rating on the stock in a research note on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and a consensus target price of $22.56.

SoFi Technologies Price Performance

The company has a market cap of $23.83 billion, a P/E ratio of 42.23 and a beta of 2.14. The company has a fifty day simple moving average of $16.69 and a 200-day simple moving average of $21.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $1.09 billion for 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 revenue was up 42.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,037 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $15.53, for a total transaction of $155,874.61. Following the transaction, the executive vice president directly owned 323,247 shares in the company, valued at approximately $5,020,025.91. The trade was a 3.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 SoFi Technologies stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the transaction, the chief technology officer owned 839,640 shares in the company, valued at approximately $14,634,925.20. The trade was a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 124,479 shares of company stock valued at $2,163,556. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in SoFi Technologies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after purchasing an additional 3,900,895 shares in the last quarter. State Street Corp grew its position in SoFi Technologies by 6.7% during the 4th quarter. State Street Corp now owns 25,937,928 shares of the company's stock worth $679,055,000 after purchasing an additional 1,637,430 shares in the last quarter. Geode Capital Management LLC grew its position in SoFi Technologies by 9.0% during the 4th quarter. Geode Capital Management LLC now owns 23,642,936 shares of the company's stock worth $618,395,000 after purchasing an additional 1,951,248 shares in the last quarter. Morgan Stanley grew its position in SoFi Technologies by 33.6% during the 4th quarter. Morgan Stanley now owns 13,323,366 shares of the company's stock worth $348,806,000 after purchasing an additional 3,350,258 shares in the last quarter. Finally, Norges Bank purchased a new position in SoFi Technologies during the 4th quarter worth approximately $321,515,000. 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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