A secret that hides SoFi Technologies Inc’s strength (NASDAQ:SOFI)

Stocks of SoFi Technologies Inc (NASDAQ:SOFI) traded higher last session on Wall Street, up 1.44% to $7.04.

According to the data, SoFi Technologies Inc (NASDAQ:SOFI) has 18 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $3.00, we find $9.00. Given the previous closing price of $6.94, this indicates a potential upside of 29.68 percent. SOFI stock price is now -11.17% away from the 50-day moving average and -4.43% away from the 200-day moving average. The market capitalization of the company currently stands at $6.75B.

A total of 11 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $9.34 as their price target over the next twelve months.

With the price target maintained at $7, Morgan Stanley recently Upgraded its rating from Underweight to Equal-Weight for SoFi Technologies Inc (NASDAQ: SOFI).

In other news, Noto Anthony, Chief Executive Officer bought 44,000 shares of the company’s stock on Nov 09. The stock was bought for $298,245 at an average price of $6.78. Upon completion of the transaction, the Chief Executive Officer now directly owns 7,239,289 shares in the company, valued at $50.96 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 09, CFO and PAO Lapointe Christopher bought 14,950 shares of the business’s stock. A total of $100,016 was incurred on buying the stock at an average price of $6.69. This leaves the insider owning 827,068 shares of the company worth $5.82 million. Insiders disposed of 4,038,217 shares of company stock worth roughly $28.43 million over the past 1 year. A total of 7.60% of the company’s stock is owned by insiders.

Monday’s opening bell rang with an opening price of $6.85 for SoFi Technologies Inc (NASDAQ: SOFI). During the past 12 months, SoFi Technologies Inc has had a low of $4.24 and a high of $11.70. The fifty day moving average price for SOFI is $7.93 and a two-hundred day moving average price translates $7.37 for the stock.

The latest earnings results from SoFi Technologies Inc (NASDAQ: SOFI) was released for Sep, 2023. According to the Credit Services Company, earnings per share came in at -$0.29, missing analysts’ expectations of -$0.07 by -0.22. This compares to -$0.09 EPS in the same period last year. The net profit margin was -16.52% and return on equity was -7.15% for SOFI. The company reported revenue of $564.27 million for the quarter, compared to $198.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 184.93 percent. For the current quarter, analysts expect SOFI to generate $573.49M in revenue.

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