SoFi Technologies (NASDAQ:SOFI) Trading Up 3.4% - Still a Buy?

Key Points

• SoFi Technologies shares rose 3.4% on Friday, trading as high as $17.97 on heavy volume that was about 33% above the daily average.
• Recent analyst action was mixed: multiple firms reiterated hold/neutral views and trimmed price targets, while the stock’s overall consensus rating remains Hold with an average target price of $22.56.
• The company’s latest earnings showed EPS of $0.12 in line with estimates and revenue of $1.09 billion, up 42.6% year over year; CEO Anthony Noto also bought shares, while CTO Jeremy Rishel sold stock under a pre-arranged plan.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was up 3.4% during trading on Friday . The stock traded as high as $17.97 and last traded at $17.88. Approximately 89,985,938 shares traded hands during trading, an increase of 33% from the average daily volume of 67,704,352 shares. The stock had previously closed at $17.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $18.00 price target on shares of SoFi Technologies in a research note on Thursday, April 30th. Argus started coverage on SoFi Technologies in a research note on Wednesday, April 15th. They issued a "hold" rating on the stock. UBS Group cut their price objective on SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Mizuho set a $29.00 target price on SoFi Technologies in a research note on Wednesday, May 6th. Finally, Stephens lowered their target price on SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.56.

SoFi Technologies Stock Up 3.4%

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The stock has a market capitalization of $22.94 billion, a P/E ratio of 40.64 and a beta of 2.14. The stock's fifty day moving average is $16.99 and its two-hundred day moving average is $20.10.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted 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. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the prior year, the company earned $0.06 earnings per share. The firm's revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CEO Anthony Noto bought 15,545 shares of SoFi Technologies stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $16.00 per share, with a total value of $248,720.00. Following the completion of the acquisition, the chief executive officer directly owned 11,946,619 shares in the company, valued at approximately $191,145,904. This trade represents a 0.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The shares were 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 owned 895,089 shares of the company's stock, valued at $15,914,682.42. This trade represents a 10.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 134,044 shares of company stock valued at $2,370,056 over the last three months. Company insiders own 2.50% of the company's stock.

Institutional Trading of SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. Brighton Jones LLC increased its holdings in shares of SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after purchasing an additional 14,281 shares during the period. Caxton Associates LLP purchased a new stake in shares of SoFi Technologies during the 1st quarter worth about $129,000. Empowered Funds LLC lifted its holdings in shares of SoFi Technologies by 5.2% during the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company's stock valued at $385,000 after buying an additional 1,631 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of SoFi Technologies by 23.2% during the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company's stock valued at $251,000 after buying an additional 2,596 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of SoFi Technologies in the 2nd quarter valued at approximately $4,633,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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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