SoFi Technologies (NASDAQ:SOFI) Shares Up 3.6% After Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 3.6% during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $21.00 to $24.00. The Goldman Sachs Group currently has a neutral rating on the stock. SoFi Technologies traded as high as $27.43 and last traded at $27.14. 62,248,149 shares traded hands during mid-day trading, a decline of 0% from the average session volume of 62,345,039 shares. The stock had previously closed at $26.19.

SOFI has been the topic of a number of other research reports. Mizuho lifted their price objective on shares of SoFi Technologies from $26.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Truist Financial set a $23.00 target price on shares of SoFi Technologies in a research report on Monday, August 4th. Keefe, Bruyette & Woods boosted their target price on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an “underperform” rating in a research report on Tuesday, August 5th. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They set a “neutral” rating and a $20.50 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.47.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction that occurred on Thursday, September 18th. The shares were 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 directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of SoFi Technologies stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.86, for a total transaction of $279,602.96. Following the sale, the executive vice president owned 285,410 shares of the company’s stock, valued at approximately $7,951,522.60. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,614 shares of company stock valued at $3,452,672. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently made changes to their positions in SOFI. Hazlett Burt & Watson Inc. lifted 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 purchasing an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $28,000. SVB Wealth LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $28,000. Garde Capital Inc. acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $31,000. Finally, Larson Financial Group LLC lifted its stake in shares of 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 purchasing an additional 1,519 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

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 firm’s 50 day moving average is $25.69 and its 200-day moving average is $18.84. The stock has a market capitalization of $32.50 billion, a price-to-earnings ratio of 56.54, a PEG ratio of 3.11 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly 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 company 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 firm’s revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

About SoFi Technologies

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.