SoFi Technologies (NASDAQ:SOFI) Trading Up 2.7% on Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report)’s stock price was up 2.7% on Tuesday 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 $28.35 and last traded at $27.87. Approximately 69,825,296 shares were traded during trading, an increase of 12% from the average daily volume of 62,421,902 shares. The stock had previously closed at $27.14.

SOFI has been the topic of a number of other reports. Redburn Atlantic raised shares of SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. Mizuho raised their target price on shares of SoFi Technologies from $26.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Rothschild & Co Redburn began coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They issued a “neutral” rating and a $20.50 price target for the company. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Finally, Citizens Jmp lowered SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 14th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $20.47.

Read Our Latest Analysis on SOFI

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the sale, the chief technology officer owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on 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 approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,614 shares of company stock worth $3,452,672 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SOFI. Key Client Fiduciary Advisors LLC lifted its holdings in shares of SoFi Technologies by 3.1% in the third quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock worth $373,000 after acquiring an additional 419 shares during the last quarter. OLD National Bancorp IN bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at approximately $225,000. Yousif Capital Management LLC increased its position in SoFi Technologies by 11.4% during the 3rd quarter. Yousif Capital Management LLC now owns 12,937 shares of the company’s stock worth $342,000 after purchasing an additional 1,323 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in SoFi Technologies by 115.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 23,169 shares of the company’s stock valued at $612,000 after purchasing an additional 12,398 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in SoFi Technologies in the third quarter valued at approximately $261,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

The business’s 50-day simple moving average is $25.82 and its two-hundred day simple moving average is $18.90. The stock has a market cap of $33.37 billion, a price-to-earnings ratio of 58.06, a price-to-earnings-growth ratio of 3.23 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The company had revenue of $519.37 million during the quarter, compared to analysts’ expectations of $801.94 million. During the same period in the prior year, the company earned $0.01 EPS. SoFi Technologies’s revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

About SoFi Technologies

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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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