SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $31.00

SoFi Technologies (NASDAQ:SOFI) had its price target increased by Truist Financial from $29.00 to $31.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

SOFI has been the subject of several other research reports. Citizens Jmp downgraded shares of SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 14th. Citigroup boosted their price objective on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Finally, Redburn Atlantic raised SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. One 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 given a Sell rating to the company. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and a consensus price target of $25.06.

SoFi Technologies Stock Down 9.7%

Shares of SOFI opened at $27.16 on Tuesday. The firm has a market cap of $32.52 billion, a PE ratio of 50.30, a price-to-earnings-growth ratio of 2.93 and a beta of 1.93. The company’s fifty day moving average is $27.58 and its two-hundred day moving average is $21.04. SoFi Technologies has a fifty-two week low of $8.60 and a fifty-two week high of $32.56. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI) last released 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 5.52% and a net margin of 19.29%.The company had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. During the same period last year, the company posted $0.05 earnings per share. The firm’s revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Analysts forecast that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 10,036 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $28.33, for a total transaction of $284,319.88. Following the sale, the executive vice president owned 275,374 shares in the company, valued at $7,801,345.42. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on Thursday, September 18th. The shares were 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 of the company’s stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 129,383 shares of company stock valued at $3,513,171. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently modified their holdings of SOFI. Hazlett Burt & Watson Inc. raised its position in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after acquiring an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new position in SoFi Technologies during the first quarter worth $28,000. SVB Wealth LLC acquired a new position in SoFi Technologies during the first quarter worth $28,000. Salomon & Ludwin LLC bought a new position in SoFi Technologies during the third quarter valued at about $29,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of SoFi Technologies by 840.3% in the third quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.