SoFi Technologies (NASDAQ:SOFI) Shares Up 2.9% – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price shot up 2.9% during trading on Monday . The company traded as high as $16.66 and last traded at $16.50. 77,705,923 shares changed hands during trading, an increase of 19% from the average session volume of 65,340,809 shares. The stock had previously closed at $16.03.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SOFI. Needham & Company LLC cut their price target on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Truist Financial cut their price target on shares of SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings lowered shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Argus began coverage on shares of SoFi Technologies in a report on Wednesday, April 15th. They set a “hold” rating on the stock. Finally, Citigroup cut their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.56.

SoFi Technologies Stock Up 2.9%

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 firm has a market cap of $21.17 billion, a P/E ratio of 37.50 and a beta of 2.14. The stock’s 50-day simple moving average is $16.72 and its 200 day simple moving average is $21.16.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 94,958 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the sale, the chief technology officer owned 839,640 shares of the company’s stock, valued at approximately $14,634,925.20. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony Noto purchased 15,545 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $248,720.00. Following the transaction, the chief executive officer directly owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. The trade was a 0.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 124,479 shares of company stock valued at $2,163,556. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently made changes to their positions in the stock. Lake Street Private Wealth LLC raised its holdings in shares of SoFi Technologies by 4.9% during the fourth quarter. Lake Street Private Wealth LLC now owns 8,368 shares of the company’s stock valued at $219,000 after purchasing an additional 390 shares during the period. Capital Advisors Wealth Management LLC raised its holdings in shares of SoFi Technologies by 0.4% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 109,483 shares of the company’s stock valued at $2,866,000 after purchasing an additional 401 shares during the period. First Horizon Corp raised its holdings in shares of SoFi Technologies by 14.9% during the fourth quarter. First Horizon Corp now owns 3,116 shares of the company’s stock valued at $82,000 after purchasing an additional 405 shares during the period. Cigna Investments Inc. New raised its holdings in shares of SoFi Technologies by 3.8% during the fourth quarter. Cigna Investments Inc. New now owns 11,440 shares of the company’s stock valued at $299,000 after purchasing an additional 416 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of SoFi Technologies by 50.5% during the third quarter. Assetmark Inc. now owns 1,273 shares of the company’s stock valued at $34,000 after purchasing an additional 427 shares during the period. Institutional investors and hedge funds 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.