SoFi Technologies, Inc. experienced a slight decline in its stock price during mid-day trading on Monday, dropping by 1.5%. The stock was noted to trade as low as $27.11, ultimately settling at $27.55, compared to the previous closing price of $27.98. During the trading session, a substantial volume of 59,710,136 shares exchanged hands, slightly lower than the typical daily trading volume of 61,109,770 shares.
The financial services company, which operates in the U.S., Latin America, and Canada, has been the subject of various analysts’ reviews. Recently, Citizens Jmp downgraded SoFi Technologies from a “strong-buy” to a “market perform” rating. Meanwhile, Truist Financial and Morgan Stanley offered different perspectives on the company’s stock price, with target predictions of $23.00 and $18.00 respectively. Other firms, including Cowen and Rothschild & Co Redburn, have adopted a more neutral stance or initiated coverage with a “hold” or “neutral” rating.
Analysts on MarketBeat.com have provided a consensus rating of “Hold” for SoFi Technologies, with the average target price set at $20.18. In terms of performance, SoFi has shown a steady upward trend with a 50-day moving average of $24.54 and a 200-day moving average of $17.74. The company is valued at $32.99 billion and possesses a price-to-earnings ratio of 57.40.
Regarding financial results, SoFi Technologies reported earnings per share (EPS) of $0.08 during its last quarterly earnings announcement, which exceeded analysts’ expectations of $0.06. Moreover, the company’s revenue rose by 42.8% compared to the same period in the previous year.
On the insider trading front, recent transactions involved the sale of shares by company executives, including the Chief Technology Officer Jeremy Rishel and Executive Vice President Kelli Keough. Their sales represented a decline in personal ownership of the company’s stock.
Institutional investors have made notable moves involving SoFi Technologies, with firms such as Hazlett Burt & Watson Inc., Headlands Technologies LLC, and TD Private Client Wealth LLC acquiring new stakes in the company. Currently, institutional investors and hedge funds control 38.43% of the company’s shares.
SoFi Technologies continues to offer a range of lending, technology, and financial services. It remains noteworthy that, despite its “Hold” rating, some analysts are suggesting alternatives believed to perform better than SoFi Technologies. Nevertheless, the company’s consistent growth and strategic positioning in the financial services sector may suggest potential for future success.