SoFi Technologies (NASDAQ:SOFI) Trading 2.3% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price was up 2.3% during trading on Tuesday . The stock traded as high as $18.84 and last traded at $18.55. Approximately 89,107,721 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 68,937,305 shares. The stock had previously closed at $18.13.

Analyst Ratings Changes

A number of research analysts have commented on SOFI shares. Truist Financial decreased their price objective on SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, May 12th. Barclays cut their price target 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. Wells Fargo & Company lowered their price objective on SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Morgan Stanley set a $16.00 price objective on SoFi Technologies in a report on Thursday, April 30th. Finally, Citigroup reduced their target price on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $22.78.

SoFi Technologies Trading Up 2.3%

The stock has a market cap of $23.79 billion, a P/E ratio of 42.16 and a beta of 2.14. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The business’s 50 day simple moving average is $16.96 and its two-hundred day simple moving average is $19.37.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly 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 analyst estimates of $1.05 billion. During the same period last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter 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, analysts expect that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, CEO Anthony Noto purchased 15,545 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $16.00 per share, with a total value of $248,720.00. Following the completion of the transaction, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $191,145,904. The trade was a 0.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 10,954 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $17.35, for a total value of $190,051.90. Following the completion of the transaction, the executive vice president directly owned 378,682 shares in the company, valued at approximately $6,570,132.70. This trade represents a 2.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 134,044 shares of company stock worth $2,370,056 over the last ninety days. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Valley Wealth Managers Inc. bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $25,000. Vermillion Wealth Management Inc. lifted its holdings in SoFi Technologies by 283.1% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after acquiring an additional 739 shares during the period. Blue Trust Inc. boosted its position in SoFi Technologies by 655.2% in the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock worth $26,000 after purchasing an additional 878 shares during the last quarter. Reflection Asset Management purchased a new position in SoFi Technologies in the fourth quarter worth $28,000. Finally, Central Pacific Bank Trust Division bought a new position in SoFi Technologies in the 4th quarter valued at $28,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.