SoFi Technologies (NASDAQ:SOFI) Trading Up 2.6% on Analyst Upgrade

Key Points

• SoFi Technologies shares rose 2.6% after Truist Financial increased its price target from $17 to $18, while maintaining a Hold rating. The stock closed at $16.88, below the analyst consensus target of $22.83.
• Analyst sentiment remains mixed: seven analysts rate SoFi a Buy, eleven a Hold, and three a Sell, resulting in a consensus Hold rating.
• SoFi reported quarterly revenue of $1.09 billion, up 42.6% year over year, and earnings of $0.12 per share, in line with estimates. Insiders sold 124,302 shares worth about $2.18 million over the past 90 days, primarily through pre-arranged trading plans.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price traded up 2.6% on Monday after Truist Financial raised their price target on the stock from $17.00 to $18.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as high as $17.50 and last traded at $16.88. 66,386,786 shares were traded during trading, a decline of 5% from the average session volume of 69,682,289 shares. The stock had previously closed at $16.46.

SOFI has been the subject of a number of other reports. UBS Group cut their price target on SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Stephens lowered their price objective on shares of SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of SoFi Technologies from $20.00 to $17.00 and set an "underperform" rating on the stock in a research report on Thursday, April 9th. Citigroup cut their target price on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Finally, Needham & Company LLC reduced their price target on shares of SoFi Technologies from $33.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $22.83.

Insider Activity

In related news, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the transaction, the chief technology officer directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 10,954 shares of the firm's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the transaction, the executive vice president directly owned 378,682 shares of the company's stock, valued at approximately $6,570,132.70. This trade represents a 2.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 124,302 shares of company stock worth $2,182,523. Company insiders own 2.50% of the company's stock.

Institutional Trading of SoFi Technologies

Several institutional investors have recently made changes to their positions in SOFI. Annex Advisory Services LLC bought a new stake in SoFi Technologies in the second quarter valued at about $1,963,000. Fiduciary Financial Group LLC bought a new position in SoFi Technologies during the second quarter worth about $315,000. Handelsbanken Fonder AB boosted its holdings in SoFi Technologies by 6.5% during the second quarter. Handelsbanken Fonder AB now owns 401,900 shares of the company's stock valued at $7,206,000 after purchasing an additional 24,700 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in SoFi Technologies by 17.4% during the second quarter. Wealthcare Advisory Partners LLC now owns 27,011 shares of the company's stock valued at $484,000 after purchasing an additional 4,007 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in SoFi Technologies by 6.5% during the second quarter. Valeo Financial Advisors LLC now owns 36,716 shares of the company's stock valued at $658,000 after purchasing an additional 2,240 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

The company has a market capitalization of $21.65 billion, a P/E ratio of 38.36 and a beta of 2.14. The firm has a 50 day moving average price of $17.21 and a two-hundred day moving average price of $18.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.SoFi Technologies's quarterly revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, research analysts expect that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

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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