SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.6% on Analyst Upgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 2.6% during mid-day trading on Monday after Truist Financial raised their price target on the stock from $17.00 to $18.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as high as $17.50 and last traded at $16.88. 66,386,786 shares traded hands during trading, a decline of 5% from the average session volume of 69,682,289 shares. The stock had previously closed at $16.46.

SOFI has been the topic of several other reports. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Mizuho set a $29.00 target price on shares of SoFi Technologies in a research report on Wednesday, May 6th. Wells Fargo & Company cut their price target on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Barclays reduced their price target on shares of SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Finally, Needham & Company LLC decreased their price objective on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.83.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 10,954 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the sale, the executive vice president owned 378,682 shares in the company, valued at approximately $6,570,132.70. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto bought 15,545 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the completion of the acquisition, the chief executive officer owned 11,946,619 shares in the company, valued at approximately $191,145,904. This trade represents a 0.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 124,302 shares of company stock valued at $2,182,523 over the last quarter. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SOFI. Valley Wealth Managers Inc. acquired a new stake in SoFi Technologies during the 4th quarter valued at $25,000. Blue Trust Inc. lifted its holdings in SoFi Technologies by 655.2% in the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after buying an additional 878 shares in the last quarter. Vermillion Wealth Management Inc. boosted its position in SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after buying an additional 739 shares during the last quarter. Reflection Asset Management purchased a new position in SoFi Technologies in the 4th quarter valued at about $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $29,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

The business has a fifty day moving average of $17.24 and a 200 day moving average of $18.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The stock has a market cap of $21.65 billion, a PE ratio of 38.36 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.06 EPS. SoFi Technologies’s revenue for the quarter was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

SoFi Technologies Company Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.