SoFi Technologies (NASDAQ:SOFI) Trading Up 2.3% - Here's Why

Key Points

• SoFi shares rose 2.3% on Tuesday, briefly hitting $16.95 before last trading at $15.98, with volume running about 26% above average.
• Analysts have turned more cautious, with several firms cutting price targets; the stock now has a consensus Hold rating and an average target of $22.56.
• Recent results were solid: SoFi matched EPS expectations at $0.12 and beat revenue estimates with $1.09 billion in quarterly sales, up 42.6% year over year. CEO Anthony Noto also bought shares recently, signaling confidence in the company.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) were up 2.3% during mid-day trading on Tuesday . The company traded as high as $16.95 and last traded at $15.98. Approximately 79,872,971 shares traded hands during trading, an increase of 26% from the average daily volume of 63,642,348 shares. The stock had previously closed at $15.62.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SOFI shares. Citigroup dropped their target price on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Barclays dropped their target price on shares of SoFi Technologies from $28.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. Truist Financial dropped their target price on shares of SoFi Technologies from $20.00 to $17.00 and set a "hold" rating on the stock in a research report on Tuesday, May 12th. TD Cowen dropped their target price on shares of SoFi Technologies from $24.00 to $18.00 and set a "hold" rating on the stock in a research report on Thursday, April 30th. Finally, Needham & Company LLC lowered their price target on shares of SoFi Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and a consensus price target of $22.56.

SoFi Technologies Price Performance

The stock has a market cap of $20.50 billion, a P/E ratio of 36.32 and a beta of 2.12. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The company's fifty day simple moving average is $16.74 and its 200-day simple moving average is $21.93.

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

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto bought 15,545 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares in the company, valued at $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 94,958 shares of the company's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the completion of the sale, the chief technology officer directly owned 839,640 shares in the company, valued at approximately $14,634,925.20. The trade was a 10.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 124,479 shares of company stock valued at $2,163,556 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

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

About SoFi Technologies

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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