SoFi Technologies (NASDAQ:SOFI) Stock Price Expected to Rise, Citigroup Analyst Says

SoFi Technologies (NASDAQ:SOFI) had its price target hoisted by equities research analysts at Citigroup from $18.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 20.02% from the company’s current price.

A number of other research analysts also recently issued reports on SOFI. Citizens Jmp downgraded SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 14th. Rothschild & Co Redburn assumed coverage on SoFi Technologies in a research note on Friday, August 1st. They set a “neutral” rating and a $20.50 target price on the stock. UBS Group upped their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods upped their target price on SoFi Technologies from $13.00 to $14.00 and gave the company an “underperform” rating in a research report on Tuesday, August 5th. Finally, Cowen assumed coverage on SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.35.

SoFi Technologies Trading Up 3.6%

Shares of NASDAQ SOFI opened at $23.33 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $20.10 and a two-hundred day simple moving average of $15.47. The firm has a market cap of $27.94 billion, a PE ratio of 48.60, a price-to-earnings-growth ratio of 2.79 and a beta of 1.93. SoFi Technologies has a twelve month low of $6.75 and a twelve month high of $25.11.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.SoFi Technologies’s revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Analysts expect that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,239 shares of company stock worth $4,123,194. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Soltis Investment Advisors LLC raised its holdings in SoFi Technologies by 1.8% in the 2nd quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company’s stock worth $518,000 after purchasing an additional 501 shares during the period. AE Wealth Management LLC raised its holdings in SoFi Technologies by 2.8% in the 2nd quarter. AE Wealth Management LLC now owns 18,620 shares of the company’s stock worth $339,000 after purchasing an additional 514 shares during the period. Pathway Financial Advisers LLC raised its holdings in SoFi Technologies by 1.1% in the 2nd quarter. Pathway Financial Advisers LLC now owns 47,319 shares of the company’s stock worth $862,000 after purchasing an additional 537 shares during the period. Burney Co. raised its holdings in SoFi Technologies by 0.4% in the 2nd quarter. Burney Co. now owns 147,136 shares of the company’s stock worth $2,679,000 after purchasing an additional 557 shares during the period. Finally, Drive Wealth Management LLC raised its holdings in SoFi Technologies by 1.4% in the 2nd quarter. Drive Wealth Management LLC now owns 40,546 shares of the company’s stock worth $738,000 after purchasing an additional 563 shares during the period. 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.