SoFi Technologies (NASDAQ:SOFI) Given New $18.00 Price Target at Truist Financial

SoFi Technologies (NASDAQ:SOFI) had its target price lifted by analysts at Truist Financial from $17.00 to $18.00 in a report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 8.11% from the stock’s current price.

A number of other brokerages have also issued reports on SOFI. Argus initiated coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They set a “hold” rating for the company. Wells Fargo & Company lowered their price objective on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. Citigroup reduced 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. Keefe, Bruyette & Woods lowered their price target on SoFi Technologies from $20.00 to $17.00 and set an “underperform” rating for the company in a report on Thursday, April 9th. Finally, Needham & Company LLC reduced their price objective on SoFi Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.83.

SoFi Technologies Trading Down 2.5%

Shares of NASDAQ SOFI opened at $16.65 on Friday. SoFi Technologies has a fifty-two week low of $14.92 and a fifty-two week high of $32.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. The company has a market cap of $21.36 billion, a price-to-earnings ratio of 37.84 and a beta of 2.14. The business’s 50 day moving average price is $17.20 and its 200-day moving average price is $18.84.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $0.06 EPS. 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. On average, sell-side analysts expect that SoFi Technologies will post 0.59 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,954 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the transaction, the executive vice president owned 378,682 shares of the company’s stock, valued at $6,570,132.70. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock in a transaction on Monday, May 11th. The shares were bought at an average price of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 124,302 shares of company stock valued at $2,182,523 over the last ninety days. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after purchasing an additional 14,281 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of SoFi Technologies during the first quarter valued at about $129,000. Empowered Funds LLC lifted its position in shares of SoFi Technologies by 5.2% during the first quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock valued at $385,000 after buying an additional 1,631 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of SoFi Technologies by 23.2% in the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock valued at $251,000 after buying an additional 2,596 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $4,633,000. 38.43% of the stock is currently owned by hedge funds and other 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.