SoFi Technologies (NASDAQ:SOFI) Shares Gap Down - Here's Why
SoFi Technologies' stock price dropped from $29.60 to $27.37, with a trading volume of 34,329,169 shares. Analysts have varied ratings, with price targets ranging from $20 to $37. The company reported better-than-expected earnings and revenue growth. Insider trading activity included significant stock sales by executives. Institutional investors have adjusted their holdings, with some increasing their stakes significantly. The stock has an average rating of 'Hold' and a target price of $24.88.
SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $29.60, but opened at $27.37. SoFi Technologies shares last traded at $27.7190, with a volume of 34,329,169 shares traded.
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Analysts Set New Price Targets
- SoFi Technologies: From Fintech Speculation to Profit Engine
Several brokerages have recently issued reports on SOFI. Keefe, Bruyette & Woods increased their price objective on SoFi Technologies from $18.00 to $20.00 and gave the company an "underperform" rating in a research note on Wednesday, October 29th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $35.00 price target on shares of SoFi Technologies in a research report on Tuesday, October 28th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $24.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 29th. Weiss Ratings restated a "hold (c)" rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Finally, Citigroup lifted their price target on shares of SoFi Technologies from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average target price of $24.88.
Check Out Our Latest Stock Analysis on SoFi Technologies
SoFi Technologies Price Performance
- NU Stock: U.S. Bank License May Be the Next Growth Catalyst
The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The company's 50 day simple moving average is $28.21 and its 200 day simple moving average is $23.19. The company has a market capitalization of $33.42 billion, a PE ratio of 51.35, a price-to-earnings-growth ratio of 2.83 and a beta of 1.93.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. The business had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The company's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.
Insiders Place Their Bets
- Mortgage Pressures Ease, 3 Stocks to Rally on Lower Rates
In related news, insider Arun Pinto sold 46,132 shares of the firm's stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the transaction, the insider directly owned 138,396 shares of the company's stock, valued at $3,426,684.96. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 10,340 shares of the business's stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the completion of the sale, the executive vice president owned 265,034 shares in the company, valued at $7,004,848.62. This represents a 3.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 175,277 shares of company stock worth $4,694,595. 2.60% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in SoFi Technologies during the first quarter worth $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies during the first quarter valued at $28,000. Salomon & Ludwin LLC purchased a new stake in SoFi Technologies during the 3rd quarter worth about $29,000. SJS Investment Consulting Inc. lifted its holdings in SoFi Technologies by 840.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company's stock valued at $30,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL boosted its stake in shares of SoFi Technologies by 693.5% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 1,230 shares of the company's stock worth $32,000 after purchasing an additional 1,075 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.
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.
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