SoFi Technologies (NASDAQ:SOFI) Trading Down 1.3% – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) dropped 1.3% during trading on Wednesday . The stock traded as low as $16.53 and last traded at $16.84. Approximately 48,876,247 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 65,844,719 shares. The stock had previously closed at $17.07.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Scotiabank started coverage on shares of SoFi Technologies in a report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $25.00 price objective for the company. Loop Capital started coverage on shares of SoFi Technologies in a report on Tuesday, September 8th. They set a “hold” rating and a $22.00 target price on the stock. Piper Sandler began coverage on shares of SoFi Technologies in a research report on Monday, August 17th. They issued an “overweight” rating and a $22.00 price target for the company. Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, 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 report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.52.

SoFi Technologies Price Performance

The stock’s 50 day moving average is $17.74 and its two-hundred day moving average is $17.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The stock has a market capitalization of $21.61 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 1.38 and a beta of 2.20.

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

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of SoFi Technologies stock in a transaction on Thursday, August 20th. The shares were 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 directly owned 356,442 shares of the company’s stock, valued at approximately $6,415,956. The trade was a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 33,194 shares of company stock valued at $581,499. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently bought and sold shares of the business. Vermillion Wealth Management Inc. raised its stake in SoFi Technologies by 283.1% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after acquiring an additional 739 shares during the last quarter. Reflection Asset Management acquired a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC raised its stake in shares of SoFi Technologies by 232.1% during the first quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company’s stock worth $34,000 after purchasing an additional 1,467 shares during the last quarter. Compass Financial Management LLC acquired a new stake in shares of SoFi Technologies during the second quarter worth $34,000. Finally, SHP Wealth Management purchased a new position in SoFi Technologies in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.