SoFi Technologies (NASDAQ:SOFI) Shares Up 3.2% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 3.2% during trading on Monday . The stock traded as high as $31.22 and last traded at $30.63. 83,468,831 shares traded hands during mid-day trading, an increase of 32% from the average session volume of 63,418,223 shares. The stock had previously closed at $29.68.

Analysts Set New Price Targets

Several brokerages have commented on SOFI. Cowen began coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating for the company. BTIG Research restated a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. Citizens Jmp downgraded SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 14th. Finally, JMP Securities reiterated a “market perform” rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $24.94.

SoFi Technologies Trading Up 3.2%

The stock has a 50-day moving average price of $27.29 and a 200-day moving average price of $20.66. The stock has a market cap of $36.68 billion, a P/E ratio of 56.72, a P/E/G ratio of 3.02 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results 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 the consensus estimate of $880.33 million. SoFi Technologies had a return on equity of 5.52% and a net margin of 19.29%.SoFi Technologies’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $28.33, for a total value of $284,319.88. Following the completion of the sale, the executive vice president owned 275,374 shares of the company’s stock, valued at $7,801,345.42. The trade was a 3.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 129,383 shares of company stock valued at $3,513,171 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its stake in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after purchasing an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new position in SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC purchased a new position in SoFi Technologies in the 1st quarter worth approximately $28,000. Salomon & Ludwin LLC purchased a new position in SoFi Technologies in the 3rd quarter worth approximately $29,000. Finally, SJS Investment Consulting Inc. increased its stake in SoFi Technologies by 840.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

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.