SoFi Technologies (NASDAQ:SOFI) Trading 1.8% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 1.8% during mid-day trading on Thursday . The company traded as high as $29.70 and last traded at $29.60. 57,525,684 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 64,221,746 shares. The stock had previously closed at $29.07.

Analysts Set New Price Targets

Several analysts recently weighed in on SOFI shares. Truist Financial lowered their price objective on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, November 25th. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Needham & Company LLC upped their price target on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, UBS Group lifted their price objective on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.88.

SoFi Technologies Stock Performance

The firm’s 50 day simple moving average is $28.18 and its 200-day simple moving average is $23.14. The company has a market capitalization of $35.69 billion, a price-to-earnings ratio of 54.82, a P/E/G ratio of 2.88 and a beta of 1.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The company’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 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the sale, the insider owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 175,277 shares of company stock valued at $4,694,595. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in SoFi Technologies in the 1st quarter worth $28,000. SVB Wealth LLC bought a new stake in SoFi Technologies during the 1st quarter valued at approximately $28,000. Salomon & Ludwin LLC acquired a new stake in SoFi Technologies in the 3rd quarter valued at approximately $29,000. SJS Investment Consulting Inc. increased its position in SoFi Technologies by 840.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the period. Finally, Strategic Investment Solutions Inc. IL boosted its position in shares of SoFi Technologies by 693.5% in the third quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company’s stock valued at $32,000 after acquiring an additional 1,075 shares during the period. Institutional investors own 38.43% of the company’s stock.

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.