SoFi Technologies (NASDAQ:SOFI) Trading 2.8% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 2.8% during trading on Thursday . The stock traded as high as $17.23 and last traded at $17.15. Approximately 60,644,830 shares were traded during trading, a decline of 7% from the average daily volume of 65,018,004 shares. The stock had previously closed at $16.68.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Wells Fargo & Company dropped their target price on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 9th. Citizens Jmp upgraded shares of SoFi Technologies from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Monday, February 9th. Stephens dropped their target price on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Mizuho set a $29.00 target price on shares of SoFi Technologies in a research report on Wednesday, May 6th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.56.

SoFi Technologies Stock Up 2.8%

The company has a market cap of $22.00 billion, a P/E ratio of 38.98 and a beta of 2.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The stock has a fifty day moving average price of $16.72 and a two-hundred day moving average price of $21.32.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.SoFi Technologies’s quarterly revenue was up 42.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, research analysts expect that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,037 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $15.53, for a total transaction of $155,874.61. Following the transaction, the executive vice president owned 323,247 shares of the company’s stock, valued at $5,020,025.91. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto bought 15,545 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the purchase, the chief executive officer directly owned 11,946,619 shares in the company, valued at approximately $191,145,904. The trade was a 0.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 124,479 shares of company stock valued at $2,163,556. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. Lake Street Private Wealth LLC increased its position in SoFi Technologies by 4.9% in the fourth quarter. Lake Street Private Wealth LLC now owns 8,368 shares of the company’s stock worth $219,000 after buying an additional 390 shares during the last quarter. Capital Advisors Wealth Management LLC increased its position in SoFi Technologies by 0.4% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company’s stock worth $2,866,000 after buying an additional 401 shares during the last quarter. First Horizon Corp increased its position in SoFi Technologies by 14.9% in the fourth quarter. First Horizon Corp now owns 3,116 shares of the company’s stock worth $82,000 after buying an additional 405 shares during the last quarter. Cigna Investments Inc. New increased its position in SoFi Technologies by 3.8% in the fourth quarter. Cigna Investments Inc. New now owns 11,440 shares of the company’s stock worth $299,000 after buying an additional 416 shares during the last quarter. Finally, Assetmark Inc. increased its position in SoFi Technologies by 50.5% in the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock worth $34,000 after buying an additional 427 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Company Profile

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.