Recent Investment Analysts’ Ratings Updates for SoFi Technologies (SOFI)

SoFi Technologies (NASDAQ: SOFI) recently received a number of ratings updates from brokerages and research firms:

• 10/30/2024 – SoFi Technologies had its price target raised by analysts at The Goldman Sachs Group, Inc. from $7.50 to $8.50. They now have a “neutral” rating on the stock.
• 10/30/2024 – SoFi Technologies had its price target raised by analysts at Barclays PLC from $8.00 to $9.00. They now have an “equal weight” rating on the stock.
• 10/30/2024 – SoFi Technologies had its price target raised by analysts at Needham & Company LLC from $10.00 to $13.00. They now have a “buy” rating on the stock.
• 10/29/2024 – SoFi Technologies had its price target raised by analysts at Jefferies Financial Group Inc. from $12.00 to $13.00. They now have a “buy” rating on the stock.
• 10/18/2024 – SoFi Technologies was downgraded by analysts at Citigroup Inc. from a “strong-buy” rating to a “hold” rating.

SoFi Technologies Price Performance

SOFI opened at $11.42 on Wednesday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $11.55. The company has a 50 day moving average of $8.74 and a two-hundred day moving average of $7.59. The company has a market cap of $12.17 billion, a P/E ratio of 114.21, a P/E/G ratio of 1.81 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

A number of large investors have recently modified their holdings of the company. Stratos Wealth Advisors LLC increased its stake in SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the period. NBC Securities Inc. increased its stake in SoFi Technologies by 12.7% during the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after buying an additional 1,081 shares during the period. Rosenberg Matthew Hamilton increased its stake in SoFi Technologies by 11.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after buying an additional 1,226 shares during the period. Victory Capital Management Inc. increased its stake in SoFi Technologies by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 128,661 shares of the company’s stock valued at $1,011,000 after buying an additional 1,319 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.