SoFi Technologies (NASDAQ:SOFI) Reaches New 52-Week High on Earnings Beat

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $31.40 and last traded at $29.61, with a volume of 32908818 shares traded. The stock had previously closed at $30.00.

The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business’s revenue was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS.

Analysts Set New Price Targets

SOFI has been the topic of several recent research reports. Truist Financial lifted their target price on shares of SoFi Technologies from $23.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday. TD Cowen started coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating and a $21.00 price objective on the stock. Rothschild & Co Redburn began coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They set a “neutral” rating and a $20.50 target price for the company. Needham & Company LLC boosted their price target on shares of SoFi Technologies from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price objective on shares of SoFi Technologies in a research report on Tuesday. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.47.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 10,578 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the sale, the executive vice president directly owned 234,622 shares of the company’s stock, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the sale, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 129,383 shares of company stock valued at $3,513,171 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. increased its holdings in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after purchasing an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies during the first quarter worth about $28,000. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies during the first quarter worth approximately $28,000. Salomon & Ludwin LLC purchased a new stake in shares of SoFi Technologies during the third quarter worth approximately $29,000. Finally, SJS Investment Consulting Inc. raised its holdings in SoFi Technologies by 840.3% in the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 5.5%

The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The company has a market cap of $37.91 billion, a PE ratio of 65.96, a P/E/G ratio of 3.54 and a beta of 1.92. The business’s 50 day moving average is $26.92 and its 200-day moving average is $20.19.

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.