SoFi Technologies (NASDAQ:SOFI) Trading 7% Higher - Still a Buy?

Key Points

• SoFi Technologies' stock rose by 7% to $24.97, although trading volume decreased by 40% compared to its average daily volume.
• Analysts have set varying price targets for SoFi, with Mizuho at $26.00 rating it as "outperform," while Morgan Stanley gave it a lower target of $13.00 with an "underweight" rating.
• Recently, insiders have sold significant shares, including EVP Kelli Keough, who sold over 10,000 shares, indicating potential concerns among executives about stock ownership levels.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 7% during trading on Friday . The company traded as high as $24.95 and last traded at $24.97. Approximately 35,887,444 shares traded hands during trading, a decline of 40% from the average daily volume of 60,304,289 shares. The stock had previously closed at $23.33.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of recent analyst reports. Truist Financial set a $23.00 price target on shares of SoFi Technologies in a research report on Monday, August 4th. Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. The Goldman Sachs Group began coverage on shares of SoFi Technologies in a report on Monday, July 14th. They set a "neutral" rating and a $19.00 price objective for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $13.00 price objective (up from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. Finally, Mizuho set a $26.00 price objective on shares of SoFi Technologies and gave the stock an "outperform" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average target price of $19.35.

SoFi Technologies Price Performance

The firm's 50 day simple moving average is $20.10 and its two-hundred day simple moving average is $15.47. The firm has a market capitalization of $29.96 billion, a P/E ratio of 52.13, a P/E/G ratio of 2.79 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. The company's revenue for the quarter 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. As a group, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,239 shares of company stock worth $4,123,194. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Soltis Investment Advisors LLC lifted its position in SoFi Technologies by 1.8% during the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company's stock valued at $518,000 after purchasing an additional 501 shares during the period. AE Wealth Management LLC lifted its position in SoFi Technologies by 2.8% during the second quarter. AE Wealth Management LLC now owns 18,620 shares of the company's stock valued at $339,000 after purchasing an additional 514 shares during the period. Pathway Financial Advisers LLC lifted its position in SoFi Technologies by 1.1% during the second quarter. Pathway Financial Advisers LLC now owns 47,319 shares of the company's stock valued at $862,000 after purchasing an additional 537 shares during the period. Burney Co. lifted its position in SoFi Technologies by 0.4% during the second quarter. Burney Co. now owns 147,136 shares of the company's stock valued at $2,679,000 after purchasing an additional 557 shares during the period. Finally, Drive Wealth Management LLC lifted its position in SoFi Technologies by 1.4% during the second quarter. Drive Wealth Management LLC now owns 40,546 shares of the company's stock valued at $738,000 after purchasing an additional 563 shares during the period. Hedge funds and other 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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