SoFi Technologies (NASDAQ:SOFI) Trading Up 6.8% - Time to Buy?

Key Points

• SoFi Technologies' stock price increased by 6.8% during mid-day trading, reaching a last traded price of $28.14, with a trading volume significantly higher than its average.
• Analyst ratings for SoFi show a mixed outlook with 12 holds, 6 buys, and 3 sells, while Barclays has recently raised its price target to $21.00.
• In the latest earnings report, SoFi beat EPS estimates with $0.08, although its revenue fell short of expectations at $519.37 million, demonstrating a year-over-year growth rate of 42.8%.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) rose 6.8% during mid-day trading on Tuesday . The stock traded as high as $28.84 and last traded at $28.14. Approximately 121,067,118 shares traded hands during trading, an increase of 95% from the average daily volume of 62,009,852 shares. The stock had previously closed at $26.36.

Wall Street Analyst Weigh In

SOFI has been the topic of several research reports. Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of SoFi Technologies in a research report on Saturday, September 27th. JMP Securities restated a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. Stephens started coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. Finally, Barclays boosted their price target on SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.18.

SoFi Technologies Price Performance

The stock has a market capitalization of $33.70 billion, a P/E ratio of 58.63, a PEG ratio of 3.00 and a beta of 1.92. The company has a 50 day moving average of $25.13 and a 200-day moving average of $18.32. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

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

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of the 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 completion of the transaction, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction dated 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 sale, the chief technology officer 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 disclosure for this sale can be found here. In the last three months, insiders have sold 129,614 shares of company stock valued at $3,452,672. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. Sullivan Wood Capital Management LLC acquired a new stake in shares of SoFi Technologies during the 2nd quarter valued at $2,799,000. CMG Global Holdings LLC boosted its stake in shares of SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after acquiring an additional 61,443 shares in the last quarter. Nicholas Wealth LLC. acquired a new position in shares of SoFi Technologies in the 1st quarter worth $993,000. Finally, Quantitative Investment Management LLC acquired a new position in shares of SoFi Technologies in the 1st quarter worth $2,862,000. Institutional investors and hedge funds own 38.43% of the company's stock.

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.

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