SoFi Technologies (NASDAQ:SOFI) Stock Price Down 3.7% After Analyst Downgrade

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price was down 3.7% during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $20.00 to $17.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as low as $15.22 and last traded at $15.31. Approximately 58,599,431 shares changed hands during trading, a decline of 8% from the average daily volume of 63,881,340 shares. The stock had previously closed at $15.90.

SOFI has been the subject of several other research reports. Argus started coverage on SoFi Technologies in a research note on Wednesday, April 15th. They issued a “hold” rating for the company. JPMorgan Chase & Co. upgraded SoFi Technologies from a “neutral” rating to an “overweight” rating and set a $31.00 price target for the company in a research note on Tuesday, February 3rd. Needham & Company LLC decreased their price target 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. Mizuho set a $29.00 price target on SoFi Technologies in a research note on Wednesday, May 6th. Finally, TD Cowen decreased their price target on SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.56.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 94,958 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the completion of the sale, the chief technology officer owned 839,640 shares of the company’s stock, valued at approximately $14,634,925.20. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony Noto purchased 15,545 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer directly owned 11,946,619 shares of the company’s stock, valued at $191,145,904. This trade represents a 0.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 124,197 shares of company stock valued at $2,191,758. Company insiders own 2.60% of the company’s stock.

SoFi Technologies News Roundup

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: CEO Anthony Noto bought 15,545 shares of SoFi stock, a sign of insider confidence that can help support investor sentiment. SoFi Technologies (NASDAQ:SOFI) CEO Anthony Noto Buys 15,545 Shares
• Positive Sentiment: SoFi announced monthly distributions for its THTA ETF, which reinforces its growing presence in investing and ETF products. SoFi Announces Monthly Distributions on $THTA (10.00%)
• Positive Sentiment: SoFi agreed to acquire a majority stake in U.K. fintech PrimaryBid, expanding its capital markets capabilities and international reach. SoFi Buys PrimaryBid As Retail Market Access And Valuation Questions Meet
• Neutral Sentiment: Broader fintech spending trends remain supportive, with U.S. consumer spending and financial services spending continuing to run at record levels, which could help demand across SoFi’s product categories. U.S. Consumer Spending Tops $21.86T: 5 Fintech Stocks Under $75
• Neutral Sentiment: SoFi’s recent earnings were solid, with revenue and EPS meeting or beating expectations, but investors are focused more on forward growth in lending and platform economics.
• Negative Sentiment: Truist cut its price target on SoFi to $17 from $20 and kept a Hold rating, citing slower loan platform growth and softer expectations for parts of the business. Truist Cuts SoFi Price Target to $17: Loan Platform Slowdown Pressures the Bull Case

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in SOFI. Lake Street Private Wealth LLC raised its stake in shares of SoFi Technologies by 4.9% during the 4th quarter. Lake Street Private Wealth LLC now owns 8,368 shares of the company’s stock valued at $219,000 after buying an additional 390 shares during the last quarter. Xcel Wealth Management LLC raised its stake in shares of SoFi Technologies by 0.6% during the 3rd quarter. Xcel Wealth Management LLC now owns 70,932 shares of the company’s stock valued at $1,874,000 after buying an additional 392 shares during the last quarter. Capital Advisors Wealth Management LLC raised its stake in shares of SoFi Technologies by 0.4% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company’s stock valued at $2,866,000 after buying an additional 401 shares during the last quarter. First Horizon Corp raised its stake in shares of SoFi Technologies by 14.9% during the 4th quarter. First Horizon Corp now owns 3,116 shares of the company’s stock valued at $82,000 after buying an additional 405 shares during the last quarter. Finally, Cigna Investments Inc. New raised its stake in shares of SoFi Technologies by 3.8% during the 4th quarter. Cigna Investments Inc. New now owns 11,440 shares of the company’s stock valued at $299,000 after buying an additional 416 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

The company has a current ratio of 0.75, a quick ratio of 0.18 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $19.52 billion, a price-to-earnings ratio of 34.80 and a beta of 2.12. The stock has a 50-day moving average price of $17.27 and a 200 day moving average price of $22.83.

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

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.