SoFi Technologies (NASDAQ:SOFI) Stock Price Up 5% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) traded up 5% during mid-day trading on Thursday . The company traded as high as $18.63 and last traded at $18.62. Approximately 69,993,052 shares were traded during mid-day trading, an increase of 2% from the average session volume of 68,388,766 shares. The stock had previously closed at $17.73.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SOFI shares. Stephens lowered their price target on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Truist Financial cut their price objective on shares of SoFi Technologies from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, May 12th. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday. Needham & Company LLC decreased their target price on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $16.00 price target on shares of SoFi Technologies in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $22.78.

SoFi Technologies Trading Up 0.9%

The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 42.68 and a beta of 2.14. The firm’s 50 day moving average is $16.92 and its 200 day moving average is $19.49. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.12 earnings per share 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 business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company posted $0.06 EPS. SoFi Technologies’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. Equities analysts forecast that SoFi Technologies, Inc. will post 0.59 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 10,954 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $17.35, for a total transaction of $190,051.90. Following the transaction, the executive vice president owned 378,682 shares of the company’s stock, valued at approximately $6,570,132.70. This represents a 2.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto purchased 15,545 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was 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 owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 134,044 shares of company stock valued at $2,370,056. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. Norges Bank acquired a new position in shares of SoFi Technologies during the 4th quarter worth $321,515,000. State Street Corp boosted its stake in SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock valued at $642,019,000 after buying an additional 5,708,053 shares in the last quarter. Marshall Wace LLP boosted its stake in SoFi Technologies by 372.9% in the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company’s stock valued at $174,116,000 after buying an additional 5,244,291 shares in the last quarter. Vanguard Group Inc. grew its position in SoFi Technologies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock valued at $2,906,061,000 after acquiring an additional 3,900,895 shares during the last quarter. Finally, Morgan Stanley raised its stake in SoFi Technologies by 33.6% during the fourth quarter. Morgan Stanley now owns 13,323,366 shares of the company’s stock worth $348,806,000 after acquiring an additional 3,350,258 shares in the last quarter. 38.43% of the stock is owned by 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.