SoFi Technologies (NASDAQ:SOFI) Stock Price Up 4.3% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 4.3% during trading on Friday . The stock traded as high as $29.75 and last traded at $29.71. 26,865,470 shares changed hands during trading, a decline of 58% from the average session volume of 64,405,742 shares. The stock had previously closed at $28.49.

Analysts Set New Price Targets

A number of analysts have recently commented on SOFI shares. Jefferies Financial Group restated a “buy” rating and set a $35.00 target price on shares of SoFi Technologies in a report on Tuesday, October 28th. Needham & Company LLC raised their target price on shares of SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. BTIG Research reiterated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. The Goldman Sachs Group upped their price target on SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $24.88.

SoFi Technologies Trading Up 4.3%

The stock has a market cap of $35.83 billion, a PE ratio of 55.02, a PEG ratio of 2.78 and a beta of 1.93. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $28.17 and its 200 day moving average price is $22.65.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other news, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the transaction, the insider directly owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% 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. Also, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares of the company’s stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 175,277 shares of company stock valued at $4,694,595 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Headlands Technologies LLC bought a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth $28,000. Salomon & Ludwin LLC bought a new stake in shares of SoFi Technologies in the third quarter worth $29,000. SJS Investment Consulting Inc. grew its holdings in shares of SoFi Technologies by 840.3% in the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares during the period. Finally, Blume Capital Management Inc. increased its position in SoFi Technologies by 52.9% during the third quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock valued at $34,000 after acquiring an additional 450 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.