SoFi Technologies (NASDAQ:SOFI) Trading Down 2.2% - What's Next?

Key Points

• SoFi Technologies shares declined by 2.2%, trading at $28.44 with a volume drop of 26% from the average session.
• Equity analysts are optimistic, with Needham & Company raising its price target to $29 and Mizuho increasing it to $31, both rating the stock positively.
• Despite the recent downturn, SoFi posted a net margin of 18.38% and reported earnings of $0.08 per share, surpassing analysts' expectations.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares fell 2.2% during mid-day trading on Wednesday . The stock traded as low as $28.35 and last traded at $28.44. 45,658,060 shares were traded during trading, a decline of 26% from the average session volume of 61,292,074 shares. The stock had previously closed at $29.09.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Needham & Company LLC upped their price target 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. Mizuho increased their price objective on shares of SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a research report on Monday, July 14th. They issued a "neutral" rating and a $19.00 price objective for the company. JMP Securities reissued a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research report on Monday, July 14th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $13.00 price objective (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $19.88.

SoFi Technologies Stock Down 2.2%

The stock's 50 day simple moving average is $24.15 and its 200 day simple moving average is $17.35. 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 market capitalization of $34.06 billion, a P/E ratio of 59.25, a P/E/G ratio of 3.54 and a beta of 1.93.

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 for the quarter, topping 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 business had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. During the same quarter last year, the company earned $0.01 EPS. 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, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity

In other news, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the transaction, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their position. The transaction was disclosed in a document filed 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 dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, 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. In the last 90 days, insiders have sold 129,614 shares of company stock valued at $3,452,672. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SOFI. Hazlett Burt & Watson Inc. boosted its holdings in shares of SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies in the first quarter worth about $28,000. SVB Wealth LLC acquired a new position in shares of SoFi Technologies in the first quarter worth about $28,000. Garde Capital Inc. acquired a new position in shares of SoFi Technologies in the first quarter worth about $31,000. Finally, Larson Financial Group LLC boosted its holdings in shares of SoFi Technologies by 127.1% in the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after buying an additional 1,519 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies

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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