SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $13.00

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target boosted by analysts at Morgan Stanley from $11.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's target price would indicate a potential downside of 40.23% from the company's current price.

• Believe the Hype? Can SoFi Maintain Its 3-Month Rally?

SOFI has been the topic of several other reports. Keefe, Bruyette & Woods upped their price objective on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. The Goldman Sachs Group assumed coverage on SoFi Technologies in a report on Monday, July 14th. They set a "neutral" rating and a $19.00 price target on the stock. Cowen began coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating on the stock. Stephens assumed coverage on SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. Finally, Barclays increased their target price on SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $17.09.

View Our Latest Analysis on SOFI

SoFi Technologies Stock Performance

• SoFi Stock’s Next Test: Can It Justify Its Premium Valuation?

Shares of NASDAQ:SOFI traded down $0.65 during mid-day trading on Wednesday, reaching $21.75. The company had a trading volume of 103,106,731 shares, compared to its average volume of 59,606,047. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The firm has a market cap of $24.04 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 3.55 and a beta of 1.91. The company's 50-day moving average price is $17.06 and its 200-day moving average price is $14.72. SoFi Technologies has a one year low of $6.01 and a one year high of $25.11.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its 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. The business had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business's revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, equities research analysts anticipate that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

• SoFi Reports Strong Q1 Results, Raises 2025 Full-Year Guidance

In related news, CTO Jeremy Rishel sold 66,847 shares of the firm's 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 completion of the transaction, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This trade represents a 8.45% 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, EVP Kelli Keough sold 10,267 shares of the business's stock in a transaction on 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. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,181 shares of company stock worth $4,043,240. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently made changes to their positions in the company. Drive Wealth Management LLC increased its position in SoFi Technologies by 1.4% during the 2nd quarter. Drive Wealth Management LLC now owns 40,546 shares of the company's stock valued at $738,000 after buying an additional 563 shares in the last quarter. CMG Global Holdings LLC boosted its holdings in SoFi Technologies by 51.7% in the second quarter. CMG Global Holdings LLC now owns 213,026 shares of the company's stock valued at $3,879,000 after purchasing an additional 72,637 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in SoFi Technologies during the 2nd quarter valued at approximately $1,943,000. Hartline Investment Corp raised its stake in SoFi Technologies by 3,939.1% during the 2nd quarter. Hartline Investment Corp now owns 520,757 shares of the company's stock valued at $9,483,000 after acquiring an additional 507,864 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in SoFi Technologies by 6.9% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 92,947 shares of the company's stock valued at $1,693,000 after buying an additional 5,995 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

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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