SoFi Technologies (NASDAQ:SOFI) Trading 2.3% Higher - Still a Buy?

Key Points

• SoFi Technologies shares rose 2.3% in Tuesday trading, reaching as high as $18.84 on heavy volume of about 89.1 million shares, well above its average session volume.
• Analyst sentiment is mixed but cautious overall. SoFi has 7 Buy ratings, 11 Hold ratings, and 3 Sell ratings, with a consensus “Hold” rating and an average price target of $22.78.
• Recent results showed strong revenue growth. SoFi reported $0.12 EPS in its latest quarter, matching estimates, while revenue of $1.09 billion topped forecasts and rose 42.6% year over year.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shot up 2.3% during trading on Tuesday . The company traded as high as $18.84 and last traded at $18.55. Approximately 89,107,721 shares were traded during trading, an increase of 29% from the average session volume of 68,937,305 shares. The stock had previously closed at $18.13.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research reports. Needham & Company LLC dropped their price objective on SoFi Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. TD Cowen cut their price objective on SoFi Technologies from $24.00 to $18.00 and set a "hold" rating for the company in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, May 26th. Truist Financial decreased their price objective on SoFi Technologies from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Tuesday, May 12th. Finally, The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $22.78.

SoFi Technologies Stock Performance

The firm has a market cap of $23.79 billion, a P/E ratio of 42.16 and a beta of 2.14. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $16.96 and a 200-day moving average of $19.37.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted $0.06 earnings per share. SoFi Technologies's revenue was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Research analysts predict that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the transaction, the chief technology officer owned 895,089 shares of the company's stock, valued at $15,914,682.42. This represents a 10.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Anthony Noto purchased 15,545 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $16.00 per share, with a total value of $248,720.00. Following the completion of the purchase, the chief executive officer directly owned 11,946,619 shares in the company, valued at approximately $191,145,904. This represents a 0.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 134,044 shares of company stock valued at $2,370,056. Company insiders own 2.50% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the stock. Valley Wealth Managers Inc. bought a new position in SoFi Technologies during the fourth quarter worth $25,000. Blue Trust Inc. raised its position in shares of SoFi Technologies by 655.2% in the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock valued at $26,000 after purchasing an additional 878 shares during the period. Vermillion Wealth Management Inc. raised its position in shares of SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock valued at $26,000 after purchasing an additional 739 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of SoFi Technologies during the 4th quarter worth about $28,000. Finally, Reflection Asset Management acquired a new stake in shares of SoFi Technologies during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 38.43% of the company's stock.

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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