SoFi Technologies (NASDAQ:SOFI) Trading 2.7% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 2.7% during trading on Thursday . The company traded as high as $28.06 and last traded at $27.72. 50,222,009 shares were traded during trading, a decline of 27% from the average session volume of 68,554,383 shares. The stock had previously closed at $27.00.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Bank of America began coverage on shares of SoFi Technologies in a research note on Tuesday. They set an “underperform” rating and a $20.50 price objective on the stock. Citigroup upped their price objective on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group decreased their target price on SoFi Technologies from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley raised their price objective on SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.50.

SoFi Technologies Stock Down 1.2%

The firm has a market cap of $33.04 billion, a PE ratio of 50.74, a P/E/G ratio of 1.74 and a beta of 1.92. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The business has a fifty day moving average price of $27.76 and a two-hundred day moving average price of $25.54.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. SoFi Technologies’s revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,468 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $27.14, for a total value of $256,961.52. Following the sale, the executive vice president owned 312,948 shares in the company, valued at approximately $8,493,408.72. This trade represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the transaction, the insider owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. The trade was a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 167,813 shares of company stock worth $4,403,334. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. Brighton Jones LLC increased its holdings in SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after buying an additional 14,281 shares during the period. NewEdge Advisors LLC lifted its stake in SoFi Technologies by 19.1% during the first quarter. NewEdge Advisors LLC now owns 195,360 shares of the company’s stock worth $2,272,000 after purchasing an additional 31,360 shares during the period. Caxton Associates LLP acquired a new stake in SoFi Technologies during the first quarter valued at approximately $129,000. Empowered Funds LLC raised its holdings in shares of SoFi Technologies by 5.2% in the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock worth $385,000 after buying an additional 1,631 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in SoFi Technologies by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,725,268 shares of the company’s stock valued at $31,695,000 after buying an additional 205,908 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.