Wall Street Analyst Upgrade SoFi Technologies Inc. [SOFI]. What else is Wall St. saying

SoFi Technologies Inc. [NASDAQ: SOFI] price plunged by -0.84 percent to reach at -$0.04. The company report on November 17, 2022 that Galileo to Power Fintech Pomelo’s ‘Remit Now, Pay Later’ Credit Card to Boost Financial Access.


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Pomelo will tap Galileo’s flexible API-enabled platform for first of its kind combined credit and U.S.-based international money transfer service.

Galileo Financial Technologies, LLC, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), announced today that its API-enabled financial technology powers Pomelo, a new charge card that allows families in the U.S. to build and extend their credit access abroad without incurring expensive remittance fees.

A sum of 23717230 shares traded at recent session while its average daily volume was at 44.99M shares. SoFi Technologies Inc. shares reached a high of $4.70 and dropped to a low of $4.52 until finishing in the latest session at $4.70.

The one-year SOFI stock forecast points to a potential upside of 37.33. The average equity rating for SOFI stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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 $7.50 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 2.00. 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.

BofA Securities have made an estimate for SoFi Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 14, 2022. While these analysts kept the previous recommendation, Seaport Research Partners raised their target price to Neutral. The new note on the price target was released on September 09, 2022, representing the official price target for SoFi Technologies Inc. stock. Previously, the target price had yet another drop from $12 to $10, while Piper Sandler kept a Overweight rating on SOFI stock.

The Average True Range (ATR) for SoFi Technologies Inc. is set at 0.31, with the Price to Sales ratio for SOFI stock in the period of the last 12 months amounting to 7.84. The Price to Book ratio for the last quarter was 0.83, with the Price to Cash per share for the same quarter was set at 1.18.

SOFI Stock Performance Analysis:

SoFi Technologies Inc. [SOFI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.17. With this latest performance, SOFI shares dropped by -8.20% in over the last four-week period, additionally sinking by -32.66% over the last 6 months – not to mention a drop of -71.39% in the past year of trading.

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 42.05, with the RSI for the last a single of trading hit 40.79, and the three-weeks RSI is set at 43.10 for SoFi Technologies Inc. [SOFI]. The present Moving Average for the last 50 days of trading for this stock 5.15, while it was recorded at 4.66 for the last single week of trading, and 6.73 for the last 200 days.

Insight into SoFi Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and SoFi Technologies Inc. [SOFI] shares currently have an operating margin of -34.79 and a Gross Margin at +41.65. SoFi Technologies Inc.’s Net Margin is presently recorded at -44.49.

Return on Equity for this stock declined to -12.49, with Return on Assets sitting at -5.46.

SoFi Technologies Inc. [SOFI] Insider Position Details

There are presently around $1,499 million, or 34.60% of SOFI stock, in the hands of institutional investors. The top three institutional holders of SOFI stocks are: VANGUARD GROUP INC with ownership of 66,808,733, which is approximately 7.822% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 31,679,161 shares of the stock with an approximate value of $148.89 million in SOFI stocks shares; and SILVER LAKE GROUP, L.L.C., currently with $146.43 million in SOFI stock with ownership of nearly 0% of the company’s market capitalization.

Positions in SoFi Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 266 institutional holders increased their position in SoFi Technologies Inc. [NASDAQ:SOFI] by around 46,499,484 shares. Additionally, 157 investors decreased positions by around 127,074,622 shares, while 109 investors held positions by with 145,446,027 shares. The mentioned changes placed institutional holdings at 319,020,133 shares, according to the latest SEC report filing. SOFI stock had 80 new institutional investments in for a total of 13,286,513 shares, while 46 institutional investors sold positions of 100,322,666 shares during the same period.

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