Truist Financial Has Lowered Expectations for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI) had its price target dropped by equities researchers at Truist Financial from $20.00 to $17.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 5.43% from the company’s previous close.

Several other equities research analysts have also commented on the company. UBS Group lowered their price objective on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Wells Fargo & Company decreased their target price on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, April 9th. JPMorgan Chase & Co. raised shares of SoFi Technologies from a “neutral” rating to an “overweight” rating and set a $31.00 price target on the stock in a report on Tuesday, February 3rd. Argus started coverage on shares of SoFi Technologies in a research report on Wednesday, April 15th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut their price objective on shares of SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $22.56.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $16.13 on Tuesday. The firm has a market capitalization of $20.56 billion, a P/E ratio of 36.71 and a beta of 2.12. The stock has a 50-day simple moving average of $17.31 and a two-hundred day simple moving average of $22.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.18 and a current ratio of 0.78. SoFi Technologies has a fifty-two week low of $12.74 and a fifty-two week high of $32.73.

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

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,755 shares of the company’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 directly owned 293,725 shares in the company, valued at approximately $5,542,590.75. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Noto acquired 28,900 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were bought at an average cost of $17.32 per share, for a total transaction of $500,548.00. Following the completion of the acquisition, the chief executive officer owned 11,704,352 shares of the company’s stock, valued at approximately $202,719,376.64. This represents a 0.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 124,197 shares of company stock valued at $2,191,758 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SOFI. Norges Bank acquired a new stake in SoFi Technologies in the 4th quarter worth about $321,515,000. Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 6.8% during the third quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock valued at $2,829,640,000 after acquiring an additional 6,814,727 shares during the last quarter. State Street Corp lifted its position in shares of SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after acquiring an additional 5,708,053 shares in the last quarter. Marshall Wace LLP lifted its position in shares of SoFi Technologies by 372.9% in the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock valued at $174,116,000 after acquiring an additional 5,244,291 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of SoFi Technologies by 33.6% in the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after acquiring an additional 3,350,258 shares during the last quarter. 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.