SoFi Technologies (NASDAQ:SOFI) Trading 1.1% Higher – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report)’s stock price traded up 1.1% during mid-day trading on Friday . The stock traded as high as $18.42 and last traded at $18.24. 18,792,522 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 41,427,262 shares. The stock had previously closed at $18.03.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays raised their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.71.

Read Our Latest Stock Report on SoFi Technologies

SoFi Technologies Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a fifty day simple moving average of $15.62 and a 200 day simple moving average of $10.94. The company has a market capitalization of $19.70 billion, a price-to-earnings ratio of 181.37, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the transaction, the director now owns 25,937 shares in the company, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 over the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management lifted its position in SoFi Technologies by 7.6% during the fourth quarter. Spire Wealth Management now owns 79,376 shares of the company’s stock worth $1,222,000 after buying an additional 5,594 shares in the last quarter. CMG Global Holdings LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at $1,216,000. OLD National Bancorp IN purchased a new stake in SoFi Technologies in the fourth quarter valued at $209,000. R Squared Ltd purchased a new stake in SoFi Technologies in the fourth quarter valued at $127,000. Finally, Mayflower Financial Advisors LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at $209,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

(Get Free Report)

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.

Further Reading

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