SoFi Technologies (NASDAQ:SOFI) Trading Down 9.7% - Should You Sell?

Key Points

• Shares fell 9.7% in mid-day trading to $27.16 on Thursday, with volume ~86.98M shares (about 37% above the average), after closing at $30.07 the prior session.
• Analysts' consensus is a "Hold" rating with a $25.06 average price target (rating mix: 1 Strong Buy, 7 Buy, 12 Hold, 3 Sell), though individual targets range from $20.50 to $38.00 after recent updates.
• SoFi reported a quarterly beat (EPS $0.11 vs. $0.09 est.; revenue $949.6M vs. $880.3M est., up 37.7% YoY) and set FY2025 EPS guidance of $0.37, while analysts expect $0.26 for the current fiscal year.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price fell 9.7% during mid-day trading on Thursday . The stock traded as low as $27.13 and last traded at $27.16. 86,978,203 shares were traded during trading, an increase of 37% from the average session volume of 63,571,754 shares. The stock had previously closed at $30.07.

Analysts Set New Price Targets

Several research firms have issued reports on SOFI. Truist Financial increased their price objective on SoFi Technologies from $29.00 to $31.00 and gave the stock a "hold" rating in a research note on Tuesday. Mizuho set a $38.00 price objective on SoFi Technologies in a research note on Thursday, October 30th. Cowen began coverage on SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating for the company. Rothschild & Co Redburn assumed coverage on SoFi Technologies in a research note on Friday, August 1st. They set a "neutral" rating and a $20.50 price objective for the company. Finally, UBS Group raised their target price on SoFi Technologies from $20.50 to $27.50 and gave the company a "neutral" rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $25.06.

SoFi Technologies Stock Performance

The company has a market capitalization of $32.52 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 2.86 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. The stock has a 50 day moving average price of $27.56 and a two-hundred day moving average price of $21.00.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.52% and a net margin of 19.29%.The firm's quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of SoFi Technologies stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $28.33, for a total value of $284,319.88. Following the completion of the sale, the executive vice president owned 275,374 shares of the company's stock, valued at approximately $7,801,345.42. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 129,383 shares of company stock valued at $3,513,171. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. boosted its holdings 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 buying an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new position in SoFi Technologies during the first quarter worth about $28,000. SVB Wealth LLC bought a new position in SoFi Technologies during the first quarter worth about $28,000. Salomon & Ludwin LLC bought a new position in SoFi Technologies during the third quarter worth about $29,000. Finally, SJS Investment Consulting Inc. boosted its holdings 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 buying an additional 1,000 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

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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