SoFi Technologies (NASDAQ:SOFI) Stock Price Up 3.2% – What’s Next?

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) were up 3.2% on Monday . The stock traded as high as $14.11 and last traded at $14.07. Approximately 13,418,675 shares changed hands during trading, a decline of 72% from the average daily volume of 47,439,961 shares. The stock had previously closed at $13.63.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SOFI shares. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $9.80.

SoFi Technologies Price Performance

The stock’s 50 day moving average is $9.98 and its two-hundred day moving average is $8.05. 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 stock has a market capitalization of $15.65 billion, a PE ratio of 144.20, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This represents a 17.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock valued at $904,677 over the last three months. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies in the third quarter valued at $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies in the third quarter valued at $28,000. Allspring Global Investments Holdings LLC increased its position in shares of SoFi Technologies by 55.3% in the second 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 in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies in the third quarter valued at $39,000. Finally, GAMMA Investing LLC boosted its stake in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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.