SoFi Technologies (NASDAQ:SOFI) Stock Price Up 2.7% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) was up 2.7% during mid-day trading on Thursday . The stock traded as high as $18.65 and last traded at $18.43. 61,573,902 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 69,625,898 shares. The stock had previously closed at $17.94.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SOFI shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $18.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Truist Financial increased their price target on SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday. Stephens decreased their price objective on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Mizuho lowered their price objective on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, Citigroup lowered their price objective on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.44.

SoFi Technologies Stock Down 0.8%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.13 and a current ratio of 0.74. The firm has a market cap of $23.46 billion, a price-to-earnings ratio of 38.10 and a beta of 2.17. The firm has a 50-day moving average price of $17.55 and a two-hundred day moving average price of $17.87.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The firm’s revenue was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.6 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the transaction, the chief technology officer owned 895,089 shares in the company, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 10,954 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $17.19, for a total transaction of $188,299.26. Following the completion of the transaction, the executive vice president directly owned 367,728 shares in the company, valued at $6,321,244.32. This trade represents a 2.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 135,256 shares of company stock valued at $2,370,822 in the last 90 days. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently made changes to their positions in SOFI. First Horizon Corp lifted its holdings in shares of SoFi Technologies by 14.9% in the 4th quarter. First Horizon Corp now owns 3,116 shares of the company’s stock valued at $82,000 after purchasing an additional 405 shares during the last quarter. Wealthspan Partners LLC grew its stake in SoFi Technologies by 2.4% during the 4th quarter. Wealthspan Partners LLC now owns 18,901 shares of the company’s stock worth $495,000 after buying an additional 450 shares during the last quarter. Trivium Point Advisory LLC grew its stake in SoFi Technologies by 3.6% during the 4th quarter. Trivium Point Advisory LLC now owns 14,245 shares of the company’s stock worth $373,000 after buying an additional 500 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its position in SoFi Technologies by 21.2% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,880 shares of the company’s stock worth $75,000 after buying an additional 503 shares during the period. Finally, Bensler LLC increased its position in SoFi Technologies by 3.6% during the fourth quarter. Bensler LLC now owns 17,450 shares of the company’s stock worth $457,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors 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.