SoFi Technologies (NASDAQ:SOFI) Research Coverage Started at Bank of America

Bank of America assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research report report published on Tuesday morning. The brokerage issued an underperform rating and a $20.50 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Truist Financial dropped their price objective on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, November 25th. UBS Group boosted their price target on SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Barclays upped their price target on SoFi Technologies from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Finally, Citigroup increased their target price on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.50.

SoFi Technologies Trading Up 2.7%

NASDAQ SOFI opened at $27.72 on Tuesday. The firm has a market capitalization of $33.43 billion, a PE ratio of 51.33, a P/E/G ratio of 1.69 and a beta of 1.92. The stock’s 50 day moving average is $27.80 and its 200 day moving average is $25.46. SoFi Technologies has a twelve month low of $8.60 and a twelve month high of $32.73. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Research analysts forecast that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,468 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $27.14, for a total transaction of $256,961.52. Following the sale, the executive vice president owned 312,948 shares of the company’s stock, valued at $8,493,408.72. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 91,837 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the completion of the sale, the chief technology officer owned 794,598 shares of the company’s stock, valued at $21,168,090.72. This represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 167,813 shares of company stock valued at $4,403,334 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after buying an additional 14,281 shares during the period. Vident Advisory LLC lifted its holdings in SoFi Technologies by 95.9% in the first quarter. Vident Advisory LLC now owns 25,191 shares of the company’s stock valued at $293,000 after acquiring an additional 12,332 shares during the period. Alliancebernstein L.P. lifted its holdings in SoFi Technologies by 33.2% in the first quarter. Alliancebernstein L.P. now owns 1,713,527 shares of the company’s stock valued at $19,928,000 after acquiring an additional 426,829 shares during the period. Integrated Wealth Concepts LLC boosted its position in SoFi Technologies by 13.5% in the first quarter. Integrated Wealth Concepts LLC now owns 98,177 shares of the company’s stock worth $1,142,000 after purchasing an additional 11,689 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of SoFi Technologies by 19.1% during the 1st quarter. NewEdge Advisors LLC now owns 195,360 shares of the company’s stock valued at $2,272,000 after purchasing an additional 31,360 shares during the period. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.