SoFi Technologies (NASDAQ:SOFI) Stock Price Up 1.2% - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 1.2% on Wednesday . The stock traded as high as $14.28 and last traded at $13.98. Approximately 18,997,787 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 47,421,504 shares. The stock had previously closed at $13.82.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Needham & Company LLC upped 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. Finally, Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.32.

SoFi Technologies Price Performance

The company has a quick ratio of 0.21, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average price is $9.32 and its two-hundred day moving average price is $7.81. The stock has a market cap of $14.30 billion, a price-to-earnings ratio of 137.81, a price-to-earnings-growth ratio of 2.30 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the firm earned ($0.03) EPS. The firm's revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares of the company's stock, valued at $830,594.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kelli Keough sold 24,939 shares of the firm's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently bought and sold shares of SOFI. Summit Trail Advisors LLC lifted its position in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after buying an additional 855 shares in the last quarter. CIBC Asset Management Inc raised its position in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock worth $223,000 after acquiring an additional 962 shares during the period. Oak Harbor Wealth Partners LLC lifted its holdings in SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company's stock valued at $86,000 after purchasing an additional 1,000 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in shares of SoFi Technologies by 3.3% in the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company's stock valued at $256,000 after purchasing an additional 1,054 shares during the period. Finally, NBC Securities Inc. increased its stake in shares of SoFi Technologies by 12.7% during the third quarter. NBC Securities Inc. now owns 9,581 shares of the company's stock worth $75,000 after purchasing an additional 1,081 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.

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