SoFi Technologies (NASDAQ:SOFI) Shares Gap Up – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) gapped up before the market opened on Tuesday . The stock had previously closed at $16.97, but opened at $17.92. SoFi Technologies shares last traded at $17.1460, with a volume of 27,467,270 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SOFI. Loop Capital started coverage on SoFi Technologies in a research note on Tuesday, September 8th. They set a “hold” rating and a $22.00 target price for the company. Scotiabank began coverage on shares of SoFi Technologies in a report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $25.00 target price on the stock. Morgan Stanley dropped their price target on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Thursday, July 30th. Needham & Company LLC reduced their price objective on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Mizuho cut their target price on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus target price of $22.52.

SoFi Technologies Trading Up 0.9%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The company has a 50 day simple moving average of $17.68 and a two-hundred day simple moving average of $17.34. The company has a market cap of $22.12 billion, a PE ratio of 35.47, a PEG ratio of 1.39 and a beta of 2.20.

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

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the company. Reynders McVeigh Capital Management LLC lifted its stake in SoFi Technologies by 2.6% in the second quarter. Reynders McVeigh Capital Management LLC now owns 699,538 shares of the company’s stock valued at $12,543,000 after acquiring an additional 17,744 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of SoFi Technologies by 39.0% in the 2nd quarter. Tidal Investments LLC now owns 538,067 shares of the company’s stock valued at $9,648,000 after purchasing an additional 150,923 shares during the last quarter. Bienville Capital Management LLC bought a new stake in SoFi Technologies in the second quarter worth $27,386,000. WINTON GROUP Ltd bought a new position in SoFi Technologies during the second quarter valued at about $186,000. Finally, NorthRock Partners LLC lifted its position in shares of SoFi Technologies by 30.2% in the second quarter. NorthRock Partners LLC now owns 29,881 shares of the company’s stock worth $536,000 after buying an additional 6,932 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.