SoFi Technologies (NASDAQ:SOFI) Hits New 12-Month High – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price hit a new 52-week high during trading on Saturday . The stock traded as high as $25.25 and last traded at $25.02, with a volume of 101141610 shares trading hands. The stock had previously closed at $23.33.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an “underperform” rating in a research report on Tuesday, August 5th. JMP Securities reiterated a “market perform” rating and set a $17.00 target price on shares of SoFi Technologies in a research report on Monday, July 14th. Stephens assumed coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an “overweight” rating and a $20.00 target price for the company. UBS Group upped their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.35.

SoFi Technologies Stock Up 7.2%

The company has a market cap of $29.96 billion, a price-to-earnings ratio of 52.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average price is $20.32 and its 200-day moving average price is $15.54.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. 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 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 66,847 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief technology officer directly owned 724,321 shares of the company’s stock, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the 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 transaction, the director owned 289,258 shares of the company’s stock, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,239 shares of company stock valued at $4,123,194. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its stake in 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 purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC acquired a new stake in SoFi Technologies in the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new stake in SoFi Technologies in the 1st quarter valued at about $28,000. Garde Capital Inc. acquired a new stake in SoFi Technologies in the 1st quarter valued at about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at about $32,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.