SoFi Technologies (NASDAQ:SOFI) Shares Up 1% - What's Next?

Key Points

• SoFi Technologies' stock increased by 1% to $29.81 with a trading volume higher than average, indicating positive market activity.
• Analyst ratings are mixed, with target prices ranging from $14 to $31, and the consensus rating is currently "Hold" with an average target price of $19.88.
• Despite a 42.8% year-over-year revenue increase to $519.37 million, SoFi reported earnings per share of $0.08, slightly above analyst expectations.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) traded up 1% during trading on Monday . The stock traded as high as $30.30 and last traded at $29.81. 63,598,252 shares were traded during mid-day trading, an increase of 3% from the average session volume of 61,470,605 shares. The stock had previously closed at $29.51.

Analyst Ratings Changes

Several research analysts have commented on the company. Citigroup raised their target price on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Barclays raised their target price on SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. TD Cowen assumed coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating and a $21.00 target price for the company. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Finally, JMP Securities reiterated a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.88.

SoFi Technologies Trading Down 1.7%

The company has a market capitalization of $35.08 billion, a PE ratio of 61.01, a PEG ratio of 3.51 and a beta of 1.93. 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 fifty day moving average of $23.99 and a two-hundred day moving average of $17.27.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $519.37 million for the quarter, compared to analysts' expectations 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 for the quarter was up 42.8% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares of the company's stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the sale, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,614 shares of company stock worth $3,452,672. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after purchasing an additional 14,281 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SoFi Technologies by 17.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,519,360 shares of the company's stock valued at $38,798,000 after purchasing an additional 380,218 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in SoFi Technologies by 16.5% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 20,558 shares of the company's stock worth $317,000 after acquiring an additional 2,912 shares in the last quarter. Sunbelt Securities Inc. boosted its holdings in SoFi Technologies by 849.4% in the fourth quarter. Sunbelt Securities Inc. now owns 9,750 shares of the company's stock worth $152,000 after acquiring an additional 8,723 shares in the last quarter. Finally, Forum Financial Management LP boosted its holdings in SoFi Technologies by 15.2% in the fourth quarter. Forum Financial Management LP now owns 41,446 shares of the company's stock worth $638,000 after acquiring an additional 5,475 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.