SoFi Technologies (NASDAQ:SOFI) Trading 2.8% Higher – What’s Next?

SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 2.8% during trading on Thursday . The stock traded as high as $17.23 and last traded at $17.15. 60,644,830 shares were traded during trading, a decline of 7% from the average session volume of 65,018,004 shares. The stock had previously closed at $16.68.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC lowered their target price on SoFi Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Argus assumed coverage on SoFi Technologies in a research note on Wednesday, April 15th. They set a “hold” rating for the company. UBS Group lowered their target price on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Barclays lowered their target price on SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $18.00 target price on shares of SoFi Technologies in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.56.

SoFi Technologies Stock Up 2.8%

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13. The stock has a market capitalization of $22.00 billion, a P/E ratio of 38.98 and a beta of 2.14. The firm has a 50-day simple moving average of $16.72 and a 200 day simple moving average of $21.32.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business’s quarterly revenue was up 42.6% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto bought 28,900 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was purchased at an average cost of $17.32 per share, for a total transaction of $500,548.00. Following the completion of the transaction, the chief executive officer owned 11,704,352 shares of the company’s stock, valued at $202,719,376.64. This trade represents a 0.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 94,958 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total value of $1,655,117.94. Following the completion of the transaction, the chief technology officer owned 839,640 shares of the company’s stock, valued at $14,634,925.20. This represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 124,479 shares of company stock worth $2,163,556. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Valley Wealth Managers Inc. acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $25,000. Blue Trust Inc. increased its stake in shares of SoFi Technologies by 655.2% in the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock valued at $26,000 after buying an additional 878 shares during the period. Vermillion Wealth Management Inc. increased its stake in shares of SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after buying an additional 739 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $28,000. Finally, Reflection Asset Management acquired a new stake in SoFi Technologies during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds 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.