SoFi Technologies (NASDAQ:SOFI) Stock Jumps 2.7% – Here’s What Happened

by · The Markets Daily

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report)’s share price traded up 2.7% during trading on Tuesday. The company traded as high as $14.99 and last traded at $14.68. Approximately 44,774,504 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 63,854,910 shares. The stock had previously closed at $14.30.

Key Headlines Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

  • Positive Sentiment: Benchmark upgraded SoFi to “Strong Buy,” providing a fresh bullish catalyst and signaling confidence in the company’s growth prospects. Benchmark upgrades SoFi Technologies stock to Strong Buy
  • Positive Sentiment: Wall Street expects earnings growth and a potential earnings beat when SoFi reports next week. The company’s prior quarter included $0.12 in earnings per share and $1.21 billion in revenue, both ahead of consensus, while revenue grew sharply year over year. SoFi earnings expectations
  • Positive Sentiment: StoneX initiated coverage with a Buy rating, adding another favorable analyst opinion as investors assess SoFi’s digital-banking expansion and revenue growth. StoneX initiates coverage of SoFi Technologies with Buy rating
  • Neutral Sentiment: SoFi is scheduled to release earnings on Tuesday. The event is likely to keep volatility elevated because investors will focus on member growth, lending trends, credit quality, profitability and forward guidance. SoFi Technologies earnings release date
  • Negative Sentiment: Keefe Bruyette & Woods lowered its price target to $15, reflecting more cautious valuation or industry expectations and limiting some of the upside implied by bullish analyst coverage. Keefe Bruyette Woods cuts SoFi price target
  • Negative Sentiment: SoFi recently declined even as the broader market advanced, indicating lingering investor concerns ahead of earnings. The shares also trade below their 50-day and 200-day moving averages, underscoring weakened technical momentum. SoFi stock dips while market gains

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOFI. Scotiabank initiated coverage on SoFi Technologies in a research report on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 target price on the stock. Wells Fargo & Company dropped their price target on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Benchmark raised shares of SoFi Technologies to a “strong-buy” rating in a report on Monday, October 12th. Piper Sandler assumed coverage on shares of SoFi Technologies in a research report on Monday, August 17th. They set an “overweight” rating and a $22.00 price objective for the company. Finally, Stonex Financia raised shares of SoFi Technologies to a “strong-buy” rating in a report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $22.20.

View Our Latest Stock Report on SoFi Technologies

SoFi Technologies Trading Up 2.7%

The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 0.84 and a beta of 2.33. The company has a fifty day moving average of $17.01 and a 200-day moving average of $17.11.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%. The business’s revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.60 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 18,624 shares of SoFi Technologies stock in a transaction on Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the sale, the chief technology officer owned 912,650 shares of the company’s stock, valued at $15,971,375. The trade was a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 10,203 shares of the company’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $16.99, for a total transaction of $173,348.97. Following the sale, the executive vice president directly owned 408,073 shares of the company’s stock, valued at $6,933,160.27. The trade was a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 40,113 shares of company stock valued at $702,417 over the last quarter. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently modified their holdings of the business. Prime Capital Investment Advisors LLC grew its stake in SoFi Technologies by 75.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 30,388 shares of the company’s stock valued at $478,000 after acquiring an additional 13,085 shares in the last quarter. Yarbrough Capital LLC purchased a new position in SoFi Technologies in the 3rd quarter worth approximately $4,317,000. Trellis Wealth Advisors LLC purchased a new position in SoFi Technologies in the 3rd quarter worth approximately $84,000. Kercheville Advisors LLC boosted its holdings in shares of SoFi Technologies by 13.8% during the 3rd quarter. Kercheville Advisors LLC now owns 13,989 shares of the company’s stock worth $220,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of SoFi Technologies by 7.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 23,509 shares of the company’s stock worth $370,000 after purchasing an additional 1,675 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 is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.

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