SoFi Technologies (NASDAQ:SOFI) Trading 1.8% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 1.8% during mid-day trading on Thursday . The stock traded as high as $26.39 and last traded at $26.09. 35,130,366 shares were traded during trading, a decline of 33% from the average session volume of 52,392,582 shares. The stock had previously closed at $25.64.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SOFI shares. The Goldman Sachs Group decreased their target price on SoFi Technologies from $27.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 6th. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Jefferies Financial Group restated a “buy” rating and set a $35.00 price objective on shares of SoFi Technologies in a research report on Tuesday, October 28th. Morgan Stanley upped their target price on SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, Needham & Company LLC lifted their price target on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $25.50.

SoFi Technologies Stock Up 1.8%

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 firm has a 50 day simple moving average of $27.18 and a 200-day simple moving average of $26.09. The stock has a market capitalization of $31.46 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 1.60 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last issued its 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 company had revenue of $949.63 million for 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 firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 91,837 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the completion of the sale, the chief technology officer directly owned 794,598 shares of the company’s stock, valued at $21,168,090.72. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the transaction, the insider directly owned 138,396 shares in the company, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 167,245 shares of company stock valued at $4,362,815. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC raised its stake in shares of SoFi Technologies by 24.2% in the fourth quarter. Apollon Wealth Management LLC now owns 11,982 shares of the company’s stock worth $314,000 after acquiring an additional 2,334 shares during the last quarter. Premier Path Wealth Partners LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $274,000. BNC Wealth Management LLC bought a new position in SoFi Technologies in the 4th quarter worth approximately $2,439,000. Fiduciary Alliance LLC lifted its holdings in SoFi Technologies by 5.4% during the 4th quarter. Fiduciary Alliance LLC now owns 209,973 shares of the company’s stock worth $5,497,000 after buying an additional 10,720 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in SoFi Technologies during the 4th quarter worth $62,000. 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.