SoFi Technologies (NASDAQ:SOFI) Trading 5% Higher Following Analyst Upgrade

Key Points

• SoFi Technologies shares rose 5% following an upgrade by Mizuho, which raised the price target from $26.00 to $31.00, maintaining an outperform rating.
• Despite some upgrades, analysts remain divided with Morgan Stanley holding an "underweight" rating and a $13.00 target, while the consensus rating is a "Hold" with an average target of $19.88.
• In recent trading, SoFi reported a strong revenue growth of 42.8% year-over-year, reaching $519.37 million, and posted earnings per share of $0.08, beating expectations.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was up 5% on Friday after Mizuho raised their price target on the stock from $26.00 to $31.00. Mizuho currently has an outperform rating on the stock. SoFi Technologies traded as high as $29.63 and last traded at $29.51. Approximately 74,309,237 shares traded hands during trading, an increase of 21% from the average daily volume of 61,451,086 shares. The stock had previously closed at $28.11.

SOFI has been the topic of a number of other research reports. Citigroup raised their target price on SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Truist Financial set a $23.00 target price on SoFi Technologies in a research report on Monday, August 4th. Morgan Stanley reiterated an "underweight" rating and issued a $13.00 price objective (up from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. Barclays upped their price target on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods increased their target price on SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $19.88.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the sale, the executive vice president directly owned 234,622 shares in the company, valued at $5,192,184.86. This trade represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was 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. The trade was a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 129,614 shares of company stock worth $3,452,672. Insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Several large investors have recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after buying an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter worth about $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter worth about $28,000. Garde Capital Inc. acquired a new stake in SoFi Technologies in the 1st quarter valued at about $31,000. Finally, Larson Financial Group LLC increased its position in SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock valued at $32,000 after acquiring an additional 1,519 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Stock Up 5.0%

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 stock has a market cap of $35.34 billion, a price-to-earnings ratio of 61.48, a PEG ratio of 3.51 and a beta of 1.93. The firm's 50-day simple moving average is $23.82 and its two-hundred day simple moving average is $17.12.

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

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.