SoFi Technologies (NASDAQ:SOFI) Trading 6.2% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 6.2% on Thursday . The company traded as high as $14.19 and last traded at $14.29. 21,559,304 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 48,656,344 shares. The stock had previously closed at $13.46.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JMP Securities assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price objective for the company. Truist Financial assumed coverage on SoFi Technologies in a research report on Monday, June 2nd. They issued a “hold” rating and a $14.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Barclays raised their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Finally, Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.36.

SoFi Technologies Price Performance

The stock has a 50 day simple moving average of $12.37 and a two-hundred day simple moving average of $14.02. The firm has a market cap of $15.74 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The company’s revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,507 shares of company stock worth $1,283,528. 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 the business. Strs Ohio purchased a new position in shares of SoFi Technologies in the 1st quarter valued at about $984,000. Intech Investment Management LLC increased its stake in SoFi Technologies by 12.5% during the 1st quarter. Intech Investment Management LLC now owns 180,798 shares of the company’s stock worth $2,103,000 after buying an additional 20,056 shares in the last quarter. Focus Partners Wealth increased its stake in SoFi Technologies by 4.3% during the 1st quarter. Focus Partners Wealth now owns 314,342 shares of the company’s stock worth $3,656,000 after buying an additional 12,831 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in SoFi Technologies during the 1st quarter worth approximately $187,000. Finally, Bayforest Capital Ltd purchased a new stake in SoFi Technologies during the 1st quarter worth approximately $490,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.