SoFi Technologies (NASDAQ:SOFI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its target price increased by analysts at Needham & Company LLC from $29.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 13.71% from the stock's current price.

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A number of other analysts have also weighed in on SOFI. TD Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating and a $21.00 price target for the company. Keefe, Bruyette & Woods upped their price target on shares of SoFi Technologies from $14.00 to $18.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 15th. JMP Securities reaffirmed a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday, October 24th. Finally, Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $23.00.

View Our Latest Stock Analysis on SOFI

SoFi Technologies Price Performance

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NASDAQ SOFI opened at $31.66 on Wednesday. SoFi Technologies has a 52 week low of $8.60 and a 52 week high of $31.98. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The stock has a market cap of $37.91 billion, a price-to-earnings ratio of 65.96, a price-to-earnings-growth ratio of 3.54 and a beta of 1.92. The company has a 50-day moving average price of $26.92 and a two-hundred day moving average price of $20.19.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $949.63 million during the quarter, compared to analysts' expectations of $880.33 million. During the same quarter in the prior year, the firm earned $0.05 EPS. SoFi Technologies's quarterly revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Analysts forecast that SoFi Technologies will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

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In other SoFi Technologies news, EVP Kelli Keough sold 10,036 shares of the company's stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $28.33, for a total value of $284,319.88. Following the transaction, the executive vice president owned 275,374 shares in the company, valued at approximately $7,801,345.42. This represents a 3.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 129,383 shares of company stock valued at $3,513,171. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its stake in shares of SoFi Technologies by 70.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,062 shares of the company's stock worth $504,000 after purchasing an additional 7,885 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of SoFi Technologies by 13.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 56,096 shares of the company's stock worth $1,482,000 after buying an additional 6,681 shares during the period. Howland Capital Management LLC bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $1,409,000. Bfsg LLC boosted its holdings in shares of SoFi Technologies by 200.0% during the 3rd quarter. Bfsg LLC now owns 1,500 shares of the company's stock worth $40,000 after buying an additional 1,000 shares during the period. Finally, Evergreen Capital Management LLC bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $263,000. Institutional investors and hedge funds 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.

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