SoFi Technologies (NASDAQ:SOFI) Trading Down 1.1% After Analyst Downgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price fell 1.1% on Tuesday after Citigroup lowered their price target on the stock from $37.00 to $30.00. Citigroup currently has a buy rating on the stock. SoFi Technologies traded as low as $15.94 and last traded at $16.02. 52,930,250 shares were traded during mid-day trading, a decline of 17% from the average session volume of 64,129,410 shares. The stock had previously closed at $16.20.

A number of other analysts have also weighed in on SOFI. Morgan Stanley set a $16.00 target price on shares of SoFi Technologies in a research report on Thursday, April 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $17.00 target price on shares of SoFi Technologies in a research report on Thursday, April 30th. UBS Group dropped their price target on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Keefe, Bruyette & Woods dropped their price target on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating for the company in a research note on Thursday, April 9th. Finally, Citizens Jmp raised shares of SoFi Technologies from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Monday, February 9th. Seven equities research 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.22.

Insider Activity

In other news, EVP Kelli Keough sold 9,755 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $18.87, for a total transaction of $184,076.85. Following the completion of the transaction, the executive vice president owned 293,725 shares of the company’s stock, valued at approximately $5,542,590.75. This trade represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Noto purchased 28,900 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were acquired at an average cost of $17.32 per share, with a total value of $500,548.00. Following the purchase, the chief executive officer directly owned 11,704,352 shares of the company’s stock, valued at approximately $202,719,376.64. The trade was a 0.25% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 38,900 shares of company stock valued at $705,398 and have sold 218,422 shares valued at $4,105,468. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently bought and sold shares of SOFI. Norges Bank bought a new position in SoFi Technologies during the fourth quarter worth $321,515,000. Vanguard Group Inc. raised its stake in SoFi Technologies by 6.8% during the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock worth $2,829,640,000 after buying an additional 6,814,727 shares during the last quarter. State Street Corp raised its stake in SoFi Technologies by 30.7% during the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after buying an additional 5,708,053 shares during the last quarter. Marshall Wace LLP raised its stake in SoFi Technologies by 372.9% during the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock worth $174,116,000 after buying an additional 5,244,291 shares during the last quarter. Finally, Morgan Stanley raised its stake in SoFi Technologies by 33.6% during the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after buying an additional 3,350,258 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

The business’s 50 day moving average is $17.59 and its two-hundred day moving average is $23.32. The firm has a market cap of $20.43 billion, a P/E ratio of 36.41 and a beta of 2.12. The company has a quick ratio of 0.18, a current ratio of 0.78 and a debt-to-equity ratio of 0.17.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.63%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $0.06 earnings per share. SoFi Technologies’s quarterly revenue was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

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.