SoFi Technologies (NASDAQ:SOFI) Reaches New 1-Year High – Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $17.46 and last traded at $17.04, with a volume of 10978991 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. William Blair began coverage on SoFi Technologies in a report on Wednesday, January 15th. They set an “outperform” rating on the stock. Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC lifted their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, 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 research note on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Stock Performance

The stock has a market cap of $19.18 billion, a price-to-earnings ratio of 175.67, a price-to-earnings-growth ratio of 1.12 and a beta of 1.78. The company’s 50-day simple moving average is $15.36 and its 200-day simple moving average is $10.76. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $631.59 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. Analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now owns 482,083 shares in the company, valued at $7,742,252.98. This represents a 78.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,999,956 shares of company stock worth $416,793,365 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of SOFI. Exchange Traded Concepts LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth $2,706,000. RFG Advisory LLC purchased a new stake in shares of SoFi Technologies during the 4th quarter worth about $646,000. Brighton Jones LLC lifted its holdings in shares of SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after buying an additional 14,281 shares during the last quarter. Yeomans Consulting Group Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $334,000. Finally, Key Client Fiduciary Advisors LLC acquired a new position in SoFi Technologies in the fourth quarter worth approximately $195,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.