Truist Financial Raises SoFi Technologies (NASDAQ:SOFI) Price Target to $18.00

Key Points

• Truist Financial raised its price target on SoFi Technologies to $18 from $17, while keeping a hold rating on the stock. The new target suggests about 8.1% upside from the prior close.
• SoFi’s latest quarterly results were solid, with EPS of $0.12 matching estimates and revenue of $1.09 billion topping expectations. Revenue also rose 42.6% year over year.
• Analyst sentiment remains mixed overall: the stock has a consensus hold rating and an average price target of $22.83, with several firms recently cutting or reaffirming targets around the $18 level.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective hoisted by investment analysts at Truist Financial from $17.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective indicates a potential upside of 8.11% from the company's previous close.

SOFI has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $18.00 price target on shares of SoFi Technologies in a report on Thursday, April 30th. TD Cowen cut their target price on SoFi Technologies from $24.00 to $18.00 and set a "hold" rating for the company in a research report on Thursday, April 30th. UBS Group decreased their target price on SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Argus started coverage on SoFi Technologies in a report on Wednesday, April 15th. They issued a "hold" rating on the stock. Finally, Citigroup dropped their price target on SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $22.83.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $16.65 on Friday. The firm has a fifty day moving average price of $17.20 and a 200-day moving average price of $18.84. 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 cap of $21.36 billion, a PE ratio of 37.84 and a beta of 2.14. SoFi Technologies has a 1 year low of $14.92 and a 1 year high of $32.73.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,954 shares of SoFi Technologies stock in a transaction that occurred 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 sale, the executive vice president owned 378,682 shares of the company's stock, valued at $6,570,132.70. The trade was a 2.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto acquired 15,545 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $16.00 per share, for a total transaction 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 represents a 0.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 124,302 shares of company stock worth $2,182,523 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Valley Wealth Managers Inc. bought a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $25,000. Vermillion Wealth Management Inc. lifted its position in SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock worth $26,000 after buying an additional 739 shares during the last quarter. Blue Trust Inc. lifted its position in SoFi Technologies by 655.2% in the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock worth $26,000 after buying an additional 878 shares during the last quarter. Reflection Asset Management purchased a new position in SoFi Technologies during the fourth quarter worth $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in SoFi Technologies during the fourth quarter valued at $29,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

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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