SoFi Technologies (NASDAQ:SOFI) Sets New 52-Week High – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) hit a new 52-week high during trading on Wednesday . The stock traded as high as $32.73 and last traded at $31.8910, with a volume of 31620181 shares traded. The stock had previously closed at $30.95.

Analysts Set New Price Targets

Several research firms have recently weighed in on SOFI. Morgan Stanley lifted their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 29th. Finally, Citigroup raised their target price on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $25.06.

SoFi Technologies Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.14 and a current ratio of 0.80. The business has a 50 day simple moving average of $27.86 and a 200-day simple moving average of $21.55. The firm has a market cap of $37.91 billion, a price-to-earnings ratio of 58.84, a P/E/G ratio of 2.98 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter last year, the company earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 10,578 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the sale, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 129,383 shares of company stock worth $3,513,171 over the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of SoFi Technologies during the second quarter valued at approximately $164,068,000. Vanguard Group Inc. grew its position in 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 buying an additional 6,814,727 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of SoFi Technologies during the 2nd quarter worth approximately $115,188,000. Nuveen LLC purchased a new stake in SoFi Technologies in the first quarter worth $47,616,000. Finally, Marshall Wace LLP increased its holdings in SoFi Technologies by 88.2% in the 2nd quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after acquiring an additional 3,748,817 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.