SoFi Technologies (NASDAQ:SOFI) Trading 1.3% Higher - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price shot up 1.3% on Tuesday . The stock traded as high as $13.42 and last traded at $13.26. 13,398,048 shares were traded during trading, a decline of 72% from the average session volume of 47,970,244 shares. The stock had previously closed at $13.09.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SOFI shares. JMP Securities initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. UBS Group increased their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Barclays boosted their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.38.

SoFi Technologies Stock Performance

The firm has a market capitalization of $14.56 billion, a PE ratio of 35.59, a P/E/G ratio of 2.24 and a beta of 1.84. The business has a 50-day simple moving average of $12.22 and a 200-day simple moving average of $14.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. SoFi Technologies's revenue was up 32.7% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. Equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $10.71, for a total value of $119,748.51. Following the completion of the sale, the executive vice president now directly owns 215,029 shares of the company's stock, valued at $2,302,960.59. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,507 shares of company stock valued at $1,283,528. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in SOFI. Elequin Capital LP boosted its stake in SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after buying an additional 685 shares during the period. Game Plan Financial Advisors LLC grew its holdings in shares of SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock valued at $128,000 after buying an additional 1,000 shares during the last quarter. Bank of New Hampshire grew its holdings in shares of SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock valued at $47,000 after buying an additional 1,000 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC increased its position in shares of SoFi Technologies by 16.7% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock valued at $81,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds 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.