SoFi Technologies (NASDAQ:SOFI) Trading 1.3% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 1.3% on Tuesday . The company traded as high as $30.99 and last traded at $30.95. 63,962,700 shares were traded during mid-day trading, an increase of 0% from the average session volume of 63,787,289 shares. The stock had previously closed at $30.54.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup increased their price target on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Mizuho set a $38.00 target price on SoFi Technologies in a research note on Thursday, October 30th. UBS Group boosted their price target on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Keefe, Bruyette & Woods upped their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Finally, Morgan Stanley lifted their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.06.

SoFi Technologies Stock Up 1.3%

The business has a fifty day moving average price of $27.74 and a two-hundred day moving average price of $21.42. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The company has a market cap of $37.06 billion, a price-to-earnings ratio of 57.32, a P/E/G ratio of 2.75 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.52%. The firm’s revenue was up 37.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 98,733 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,036 shares of SoFi Technologies stock in a transaction on Monday, October 20th. The stock was sold at an average price of $28.33, for a total transaction of $284,319.88. Following the completion of the transaction, the executive vice president owned 275,374 shares in the company, valued at $7,801,345.42. This trade represents a 3.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 129,383 shares of company stock valued at $3,513,171 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. boosted 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 valued at $30,000 after acquiring an additional 1,000 shares during the period. Salomon & Ludwin LLC bought a new position in shares of SoFi Technologies during the 3rd quarter worth about $29,000. Assetmark Inc. raised its position 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 buying an additional 427 shares during the last quarter. Blume Capital Management Inc. grew its position in SoFi Technologies by 52.9% during the third quarter. Blume Capital Management Inc. now owns 1,300 shares of the company’s stock worth $34,000 after buying an additional 450 shares in the last quarter. Finally, Bessemer Group Inc. bought a new position in SoFi Technologies during the third quarter valued at about $36,000. 38.43% of the stock is owned by 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.