SoFi Technologies (NASDAQ:SOFI) Stock Price Up 4% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) shot up 4% on Thursday . The company traded as high as $26.72 and last traded at $26.29. 44,854,219 shares were traded during trading, a decline of 30% from the average session volume of 64,117,414 shares. The stock had previously closed at $25.27.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research reports. Citigroup boosted their price objective on shares of SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 price target on shares of SoFi Technologies in a research report on Tuesday, October 28th. BTIG Research reiterated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 29th. Finally, Needham & Company LLC increased their target price on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $25.69.

SoFi Technologies Trading Up 4.0%

The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The business’s 50-day simple moving average is $28.20 and its two-hundred day simple moving average is $24.11. The company has a market capitalization of $31.70 billion, a PE ratio of 48.69 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 10,340 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 265,034 shares of the company’s stock, valued at $7,004,848.62. This represents a 3.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the transaction, the insider directly owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 66,508 shares of company stock worth $1,699,834. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of SoFi Technologies during the second quarter worth $164,068,000. Vanguard Group Inc. grew its position in shares of SoFi Technologies by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 107,102,212 shares of the company’s stock valued at $2,829,640,000 after buying an additional 6,814,727 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in SoFi Technologies during the second quarter worth about $115,188,000. State Street Corp lifted its holdings in SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company’s stock worth $642,019,000 after acquiring an additional 5,708,053 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in SoFi Technologies by 88.2% in the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock valued at $145,628,000 after acquiring an additional 3,748,817 shares during the period. 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.