SoFi Technologies (NASDAQ:SOFI) Trading 4.6% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 4.6% during mid-day trading on Wednesday . The company traded as high as $17.94 and last traded at $17.84. Approximately 40,057,106 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 67,396,492 shares. The stock had previously closed at $17.05.

Key Headlines Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Scotiabank initiated coverage with a “Sector Outperform” rating and a $25 price target, implying approximately 40% upside from the referenced $17.84 share price. The initiation provides new institutional support and may improve investor sentiment toward SOFI. Scotiabank Initiates SoFi Technologies at Sector Outperform
• Positive Sentiment: Recent analysis argues that SoFi’s product flywheel is gaining traction through higher cross-selling, expansion of non-lending products and stronger fee-based revenue. A broader revenue mix could reduce the company’s reliance on balance-sheet lending over time. Is SoFi’s Product Flywheel Gaining Enough Traction to Lift SOFI Stock?
• Neutral Sentiment: SoFi is trading modestly higher despite a difficult macroeconomic backdrop. Rising Treasury yields are pressuring rate-sensitive fintech lenders, although the company’s deposit base may provide a funding and interest-rate hedge. What’s Happening With SoFi Stock?
• Negative Sentiment: A bond-market selloff recently triggered heavier selling in SoFi and other balance-sheet lenders because higher yields can increase funding costs and weigh on loan demand and valuations. Brokerage-focused rival Robinhood was viewed as less exposed to this pressure. SoFi Drops 4%, Affirm Falls 5% as Yields Hit Balance-Sheet Lenders, Robinhood Holds Steady
• Negative Sentiment: Retail investors on Stocktwits increasingly identified Robinhood as a preferable fintech investment, signaling competitive sentiment risk for SOFI even as its product expansion continues. SOFI’s Decline Has Retail Looking Elsewhere

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SOFI. Piper Sandler initiated coverage on SoFi Technologies in a research report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price target for the company. Wells Fargo & Company cut their price objective on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group boosted their target price on SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Truist Financial upped their target price on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Finally, Morgan Stanley dropped their price target on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.55.

SoFi Technologies Trading Up 4.6%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The business’s 50 day moving average price is $17.85 and its 200-day moving average price is $17.49. The company has a market cap of $23.04 billion, a price-to-earnings ratio of 37.17 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The firm’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at $15,914,682.42. This represents a 10.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 11,286 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the sale, the executive vice president owned 356,442 shares in the company, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 136,505 shares of company stock valued at $2,418,096 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after buying an additional 14,281 shares in the last quarter. Caxton Associates LLP bought a new position in shares of SoFi Technologies in the 1st quarter valued at about $129,000. Empowered Funds LLC raised its stake in SoFi Technologies by 5.2% in the first quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock valued at $385,000 after buying an additional 1,631 shares during the period. Franklin Resources Inc. grew its stake in SoFi Technologies by 23.2% in the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock valued at $251,000 after buying an additional 2,596 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of SoFi Technologies during the second quarter worth approximately $4,633,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.