SoFi Technologies (NASDAQ:SOFI) Trading Up 8.8% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price rose 8.8% on Monday . The company traded as high as $27.61 and last traded at $27.40. Approximately 63,150,506 shares were traded during trading, a decline of 2% from the average daily volume of 64,634,719 shares. The stock had previously closed at $25.19.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BTIG Research reiterated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Needham & Company LLC upped their price target on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Keefe, Bruyette & Woods boosted their target price on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. Finally, Redburn Atlantic raised SoFi Technologies to a “hold” rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.06.

SoFi Technologies Trading Up 8.8%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. The firm has a market cap of $33.04 billion, a PE ratio of 50.74, a price-to-earnings-growth ratio of 2.46 and a beta of 1.93. The stock has a 50-day simple moving average of $28.11 and a two-hundred day simple moving average of $22.47.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results 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 net margin of 19.29% and a return on equity of 5.12%. The firm had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue for the quarter 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. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other news, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the sale, the insider owned 138,396 shares in the company, valued at approximately $3,426,684.96. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $26.43, for a total value of $273,286.20. Following the transaction, the executive vice president directly owned 265,034 shares in the company, valued at approximately $7,004,848.62. This represents a 3.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 175,277 shares of company stock valued at $4,694,595 in the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Large investors have recently modified their holdings of the company. Liontrust Investment Partners LLP bought a new position in SoFi Technologies during the 3rd quarter worth about $10,608,000. CIBC Private Wealth Group LLC lifted its position in shares of SoFi Technologies by 12.5% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 62,626 shares of the company’s stock worth $1,655,000 after purchasing an additional 6,959 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $1,047,000. Alpine Global Management LLC purchased a new position in SoFi Technologies during the third quarter valued at approximately $341,000. Finally, Coldstream Capital Management Inc. bought a new position in SoFi Technologies in the third quarter worth approximately $313,000. Hedge funds and other 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.