SoFi Technologies (NASDAQ:SOFI) Trading Up 3.7% – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price shot up 3.7% during mid-day trading on Tuesday . The stock traded as high as $17.67 and last traded at $17.64. Approximately 84,772,346 shares changed hands during trading, an increase of 22% from the average daily volume of 69,338,773 shares. The stock had previously closed at $17.01.

Key SoFi Technologies News

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Wall Street expects earnings growth when SoFi reports next week, and Zacks highlighted the setup as one that could lead to an earnings beat if the company delivers on expectations. Article Title
• Positive Sentiment: A Fool article argued that strong results from JPMorgan Chase and Goldman Sachs could support smaller banks and financial firms, which may indirectly help sentiment around SoFi’s financial-services business. Article Title
• Neutral Sentiment: SoFi remains one of the most watched stocks on Zacks, suggesting elevated investor attention ahead of earnings, but the coverage itself did not provide a new fundamental catalyst. Article Title
• Neutral Sentiment: SoFi’s stock also drew attention from a comparison piece versus Dave, which is more commentary on relative valuation and business models than a direct company-specific catalyst. Article Title
• Negative Sentiment: An executive sold nearly 11,000 shares under a prearranged 10b5-1 plan, which can still weigh on sentiment even when the sale is automatic. Article Title
• Negative Sentiment: Short-seller Muddy Waters reportedly doubled down on its bearish view, saying SoFi remains one of its most compelling short ideas due to concerns about accounting practices. Article Title

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup decreased their price objective on SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, May 4th. Barclays reduced their price objective on shares of SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Weiss Ratings cut SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Needham & Company LLC decreased their price target on SoFi Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Finally, Truist Financial lowered their target price on shares of SoFi Technologies from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, May 12th. Seven research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $22.78.

SoFi Technologies Trading Down 3.2%

The firm’s 50 day simple moving average is $17.18 and its 200-day simple moving average is $18.92. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $21.90 billion, a PE ratio of 38.80 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The firm’s revenue was up 42.6% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Anthony Noto purchased 15,545 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $16.00 per share, with a total value of $248,720.00. Following the completion of the transaction, the chief executive officer owned 11,946,619 shares of the company’s stock, valued at $191,145,904. This represents a 0.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the transaction, the chief technology officer owned 895,089 shares in the company, valued at $15,914,682.42. This trade represents a 10.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 124,302 shares of company stock worth $2,182,523 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently bought and sold shares of SOFI. Brighton Jones LLC increased its holdings in shares of SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after acquiring an additional 14,281 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of SoFi Technologies in the 1st quarter valued at about $129,000. Empowered Funds LLC grew its position in shares of SoFi Technologies by 5.2% during the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock valued at $385,000 after buying an additional 1,631 shares during the last quarter. Franklin Resources Inc. lifted its holdings in SoFi Technologies by 23.2% in the second quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock worth $251,000 after acquiring an additional 2,596 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of SoFi Technologies during the second quarter valued at approximately $4,633,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.