SoFi Technologies Inc. [SOFI] moved down -3.40: Why It’s Important

SoFi Technologies Inc. [NASDAQ: SOFI] stock went on a downward path that fall over -3.40% on Tuesday, amounting to a one-week price decrease of less than -8.46%. The company report on September 9, 2021 that SoFi to Participate in the Goldman Sachs 11th Annual Financial Technology Conference.

SoFi (NASDAQ: SOFI), a leading next-generation financial services platform, announced that it will meet with institutional investors at the 11th Annual Financial Technology Conference hosted by Goldman Sachs. SoFi’s Chief Executive Officer, Anthony Noto, will participate in a moderated fireside chat discussion. Full session details for the conference appearance are as follows:.

Goldman Sachs 11th Annual Financial Technology Conference.

The one-year SoFi Technologies Inc. stock forecast points to a potential upside of 45.28. The average equity rating for SOFI stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $11.82 billion, with 799.63 million shares outstanding and 679.35 million shares in the current float. Compared to the average trading volume of 18.20M shares, SOFI stock reached a trading volume of 24210300 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on SoFi Technologies Inc. [SOFI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SOFI shares is $26.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SOFI stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for SoFi Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 09, 2021. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Buy. The new note on the price target was released on June 16, 2021, representing the official price target for SoFi Technologies Inc. stock.

The Average True Range (ATR) for SoFi Technologies Inc. is set at 0.74, with the Price to Sales ratio for SOFI stock in the period of the last 12 months amounting to 14.80. The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 0.57.

SOFI Stock Performance Analysis:

SoFi Technologies Inc. [SOFI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.46. With this latest performance, SOFI shares dropped by -3.27% in over the last four-week period, additionally sinking by -21.41% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SOFI stock in for the last two-week period is set at 43.48, with the RSI for the last a single of trading hit 41.45, and the three-weeks RSI is set at 43.97 for SoFi Technologies Inc. [SOFI]. The present Moving Average for the last 50 days of trading for this stock 15.45, while it was recorded at 15.19 for the last single week of trading.

Insight into SoFi Technologies Inc. Fundamentals:

SoFi Technologies Inc. [SOFI] Insider Position Details

There are presently around $4,589 million, or 25.30% of SOFI stock, in the hands of institutional investors. The top three institutional holders of SOFI stocks are: SOFTBANK GROUP CORP with ownership of 117,795,930, which is approximately New of the company’s market cap and around 1.00% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 40,295,165 shares of the stock with an approximate value of $584.28 million in SOFI stocks shares; and SILVER LAKE GROUP, L.L.C., currently with $558.48 million in SOFI stock with ownership of nearly New of the company’s market capitalization.

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185 institutional holders increased their position in SoFi Technologies Inc. [NASDAQ:SOFI] by around 305,725,826 shares. Additionally, 37 investors decreased positions by around 4,965,317 shares, while 28 investors held positions by with 5,786,691 shares. The mentioned changes placed institutional holdings at 316,477,834 shares, according to the latest SEC report filing. SOFI stock had 118 new institutional investments in for a total of 288,205,099 shares, while 22 institutional investors sold positions of 4,718,467 shares during the same period.

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