Truist Financial Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI) had its price objective raised by analysts at Truist Financial from $29.00 to $31.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 3.01% from the company’s previous close.

A number of other equities analysts have also issued reports on SOFI. Citizens Jmp lowered shares of SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price objective on shares of SoFi Technologies in a research note on Tuesday, October 28th. Needham & Company LLC upped their target price on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. TD Cowen began coverage on SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating and a $21.00 target price on the stock. Finally, Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.06.

SoFi Technologies Stock Down 1.7%

Shares of NASDAQ SOFI traded down $0.54 during trading on Tuesday, reaching $30.09. 29,956,109 shares of the stock were exchanged, compared to its average volume of 63,268,605. The business’s 50-day moving average price is $27.38 and its 200 day moving average price is $20.80. SoFi Technologies has a twelve month low of $8.60 and a twelve month high of $32.56. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $36.04 billion, a price-to-earnings ratio of 55.73, a price-to-earnings-growth ratio of 3.02 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.52%. The firm had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. During the same period in the prior year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities analysts forecast that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,036 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $28.33, for a total value of $284,319.88. Following the completion of the transaction, the executive vice president directly owned 275,374 shares in the company, valued at approximately $7,801,345.42. The trade was a 3.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 129,383 shares of company stock valued at $3,513,171. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in SoFi Technologies in the second quarter valued at approximately $164,068,000. Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies in the second quarter valued at $115,188,000. Nuveen LLC purchased a new position in shares of SoFi Technologies in the first quarter valued at $47,616,000. Marshall Wace LLP grew its position in SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after buying an additional 3,748,817 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of SoFi Technologies by 87.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,361,809 shares of the company’s stock valued at $168,079,000 after acquiring an additional 2,961,849 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.