SoFi Technologies (NASDAQ:SOFI) Trading 1.5% Higher - Here's Why

Key Points

• SoFi Technologies' shares rose 1.5% to $28.45 during mid-day trading, with increased trading volume compared to the average daily volume.
• Equities research analysts have varied ratings on SoFi, with price targets ranging from $13.00 to $29.00, and an average price target of approximately $20.18.
• The company reported $519.37 million in revenue for the last quarter, which was below analyst estimates, but showed a 42.8% increase compared to the same quarter last year.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 1.5% during mid-day trading on Thursday . The company traded as high as $28.69 and last traded at $28.45. Approximately 66,586,397 shares traded hands during trading, an increase of 7% from the average daily volume of 62,092,004 shares. The stock had previously closed at $28.02.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SOFI shares. Keefe, Bruyette & Woods increased their price objective on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Truist Financial set a $23.00 price objective on SoFi Technologies in a research note on Monday, August 4th. The Goldman Sachs Group assumed coverage on SoFi Technologies in a research report on Monday, July 14th. They issued a "neutral" rating and a $19.00 price objective on the stock. Finally, Citigroup increased their price objective on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average price target of $20.18.

SoFi Technologies Trading Up 1.5%

The stock's 50-day moving average price is $25.49 and its 200 day moving average price is $18.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The firm has a market capitalization of $34.07 billion, a PE ratio of 59.27, a price-to-earnings-growth ratio of 3.33 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. During the same quarter in the prior year, the firm posted $0.01 EPS. The business's quarterly revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the sale, the chief technology officer owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,614 shares of company stock valued at $3,452,672 over the last 90 days. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the period. Sullivan Wood Capital Management LLC bought a new position in shares of SoFi Technologies in the 2nd quarter worth about $2,799,000. CMG Global Holdings LLC increased its holdings in shares of SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after acquiring an additional 61,443 shares in the last quarter. Nicholas Wealth LLC. bought a new stake in shares of SoFi Technologies in the 1st quarter worth $993,000. Finally, Quantitative Investment Management LLC bought a new position in SoFi Technologies during the first quarter valued at $2,862,000. Institutional investors 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.

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