SoFi Technologies (NASDAQ:SOFI) Shares Up 1.4% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 1.4% during mid-day trading on Friday . The stock traded as high as $17.06 and last traded at $16.96. Approximately 43,961,549 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 65,596,297 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

SOFI has been the subject of several analyst reports. Scotiabank initiated coverage on SoFi Technologies in a research report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $25.00 target price for the company. Mizuho lowered their price target on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Wells Fargo & Company cut their price target on SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Needham & Company LLC reduced their price target on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Truist Financial raised their price objective on SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.52.

SoFi Technologies Price Performance

The company has a market cap of $21.91 billion, a P/E ratio of 35.33, a P/E/G ratio of 1.38 and a beta of 2.20. The company’s 50-day moving average price is $17.74 and its two-hundred day moving average price is $17.36. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI) last issued 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 for 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 company’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 11,286 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the sale, the executive vice president owned 356,442 shares of the company’s stock, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 33,194 shares of company stock worth $581,499. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in SoFi Technologies in the second quarter worth $1,298,925,000. Norges Bank acquired a new position in SoFi Technologies during the 4th quarter valued at about $321,515,000. Bank of America Corp DE acquired a new stake in shares of SoFi Technologies in the second quarter valued at approximately $163,808,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of SoFi Technologies during the second quarter worth approximately $93,937,000. Finally, Bank of New York Mellon Corp bought a new position in SoFi Technologies in the 2nd quarter worth approximately $72,531,000. 38.43% of the stock is currently owned by institutional investors.

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.