Scotiabank Begins Coverage on SoFi Technologies (NASDAQ:SOFI)

Equities research analysts at Scotiabank assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research note issued on Wednesday, MarketBeat reports. The firm set a “sector outperform” rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial upped their target price on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Morgan Stanley reduced their price objective on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Thursday, July 30th. Needham & Company LLC decreased their price objective on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company decreased their price target on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.42.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $17.05 on Wednesday. SoFi Technologies has a fifty-two week low of $14.88 and a fifty-two week high of $32.73. The stock’s 50-day moving average is $17.85 and its two-hundred day moving average is $17.49. The firm has a market cap of $22.02 billion, a P/E ratio of 35.52 and a beta of 2.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, analysts anticipate that SoFi Technologies will post 0.61 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the transaction, the executive vice president directly owned 356,442 shares in the company, valued at $6,415,956. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. This trade represents a 10.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 136,505 shares of company stock worth $2,418,096. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently made changes to their positions in SOFI. Valley Wealth Managers Inc. acquired a new stake in SoFi Technologies during the fourth quarter worth about $25,000. Vermillion Wealth Management Inc. raised its holdings in SoFi Technologies by 283.1% in the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after acquiring an additional 739 shares in the last quarter. Reflection Asset Management acquired a new position in SoFi Technologies in the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC lifted its position in shares of SoFi Technologies by 232.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company’s stock worth $34,000 after acquiring an additional 1,467 shares during the period. Finally, Compass Financial Management LLC bought a new stake in shares of SoFi Technologies in the 2nd quarter worth approximately $34,000. Institutional investors own 38.43% of the company’s stock.

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.