SoFi Technologies (NASDAQ:SOFI) Trading Down 5.4% - Should You Sell?

Key Points

• SoFi Technologies' stock fell 5.4% to $27.19, with trading volume increasing by 16% over the average daily volume.
• Analysts have mixed ratings on SoFi, with a consensus of "Hold" and a price target of $20.71, reflecting uncertainty in the stock's future performance.
• Recent earnings showed a 42.8% increase in revenue year-over-year, yet the company fell short of analyst revenue expectations, reporting $519.37 million against an estimate of $801.94 million.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) dropped 5.4% during mid-day trading on Wednesday . The stock traded as low as $26.38 and last traded at $27.19. Approximately 72,474,492 shares changed hands during trading, an increase of 16% from the average daily volume of 62,528,160 shares. The stock had previously closed at $28.75.

Wall Street Analyst Weigh In

SOFI has been the subject of several analyst reports. Citizens Jmp cut shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. Needham & Company LLC increased their price target on shares of SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Weiss Ratings reissued a "hold (c)" rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $14.00 to $18.00 and gave the stock an "underperform" rating in a report on Wednesday, October 15th. Finally, Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.71.

SoFi Technologies Trading Down 5.4%

The firm has a market cap of $32.56 billion, a price-to-earnings ratio of 56.65, a PEG ratio of 3.41 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The business has a fifty day moving average of $26.36 and a two-hundred day moving average of $19.47.

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

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 10,036 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.86, for a total value of $279,602.96. Following the sale, the executive vice president directly owned 285,410 shares in the company, valued at $7,951,522.60. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,347 shares of company stock worth $3,228,852 over the last quarter. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Hedge funds have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its position in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC acquired a new stake in SoFi Technologies during the first quarter worth about $28,000. SVB Wealth LLC acquired a new stake in SoFi Technologies during the first quarter worth about $28,000. Salomon & Ludwin LLC acquired a new stake in SoFi Technologies during the third quarter worth about $29,000. Finally, SJS Investment Consulting Inc. increased its stake in SoFi Technologies by 840.3% during the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company's stock worth $30,000 after acquiring an additional 1,000 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.