SoFi Technologies (NASDAQ:SOFI) Trading 0.1% Higher - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s share price shot up 0.1% during mid-day trading on Tuesday . The company traded as high as $11.48 and last traded at $11.20. 22,987,374 shares were traded during mid-day trading, a decline of 50% from the average session volume of 46,292,258 shares. The stock had previously closed at $11.18.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SOFI. JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Bank of America reissued an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Finally, Needham & Company LLC raised their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus price target of $12.50.

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SoFi Technologies Stock Performance

The company has a market capitalization of $13.07 billion, a PE ratio of 32.22, a PEG ratio of 2.24 and a beta of 1.79. The business's 50-day moving average is $15.00 and its 200-day moving average is $12.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the company posted $0.04 earnings per share. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now directly owns 25,937 shares of the company's stock, valued at $415,510.74. This trade represents a 66.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now directly owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,004 shares of company stock valued at $2,292,100 in the last three months. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in SoFi Technologies during the 4th quarter valued at about $3,703,000. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $1,116,000. Kercheville Advisors LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $1,594,000. Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after acquiring an additional 87,097 shares during the period. Finally, Zacks Investment Management bought a new stake in shares of SoFi Technologies in the third quarter worth approximately $3,766,000. 38.43% of the stock is currently owned by institutional investors.

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.