Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) Target Price at $18.29

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been assigned a consensus rating of “Hold” from the twenty-one research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.2941.

SOFI has been the topic of several recent research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.00 price target (up previously from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an “underperform” rating in a report on Tuesday, August 5th. Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a “hold” rating for the company. Stephens began coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They set an “overweight” rating and a $20.00 price target for the company. Finally, TD Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a “hold” rating and a $21.00 price target for the company.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $21.80, for a total transaction of $223,820.60. Following the completion of the sale, the executive vice president directly owned 245,200 shares in the company, valued at $5,345,360. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares of the company’s stock, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,661 shares of company stock worth $3,889,103 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares during the period. CMG Global Holdings LLC grew its holdings in shares of SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company’s stock worth $1,728,000 after purchasing an additional 61,443 shares during the period. Nicholas Wealth LLC. purchased a new stake in shares of SoFi Technologies during the 1st quarter worth about $993,000. Sierra Summit Advisors LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter worth about $9,715,000. Finally, NorthRock Partners LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter worth about $172,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 6.1%

Shares of NASDAQ SOFI opened at $22.75 on Friday. SoFi Technologies has a 12-month low of $6.75 and a 12-month high of $25.11. The company has a market capitalization of $27.24 billion, a PE ratio of 47.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The firm’s 50-day moving average is $19.78 and its two-hundred day moving average is $15.36.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Equities analysts anticipate that SoFi Technologies will post 0.26 EPS for the current fiscal year.

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.