SoFi Technologies Inc. [SOFI] Revenue clocked in at $560.70 million, down -70.84% YTD: What’s Next?

SoFi Technologies Inc. [NASDAQ: SOFI] gained 0.66% or 0.03 points to close at $4.61 with a heavy trading volume of 19340633 shares. The company report on December 13, 2022 that Galileo Launches Direct Deposit Switch Powered by Atomic.

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New financial feature boosts customer lifetime value for banks and fintech firms while expanding financial access and control for consumers.

Galileo Financial Technologies, LLC, a leading financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), announced the launch of Galileo Direct Deposit Switch. Powered by Atomic, the infrastructure provider for connecting with payroll accounts, Galileo’s Direct Deposit Switch functionality gives the company’s fintech clients an opportunity to better serve consumers by offering faster access to their wages and a more streamlined approach to redirecting part or all of their paychecks into a financial services accounts of their choice.

It opened the trading session at $4.55, the shares rose to $4.62 and dropped to $4.4611, the range by which the price of stock traded the whole day. The daily chart for SOFI points out that the company has recorded -22.26% loss over the past six months. However, it is still -8.73% lower than its most recent low trading price.

If we look at the average trading volume of 43.26M shares, SOFI reached to a volume of 19340633 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $7.33 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 0.25, with the Price to Sales ratio for SOFI stock in the period of the last 12 months amounting to 7.58. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 1.20.

Trading performance analysis for SOFI stock

SoFi Technologies Inc. [SOFI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.65. With this latest performance, SOFI shares dropped by -1.07% in over the last four-week period, additionally sinking by -22.26% over the last 6 months – not to mention a drop of -69.45% 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 47.12, with the RSI for the last a single of trading hit 50.03, and the three-weeks RSI is set at 45.93 for SoFi Technologies Inc. [SOFI]. The present Moving Average for the last 50 days of trading for this stock 4.97, while it was recorded at 4.57 for the last single week of trading, and 6.28 for the last 200 days.

SoFi Technologies Inc. [SOFI]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at SoFi Technologies Inc. [SOFI]

There are presently around $1,471 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 $146.04 million in SOFI stocks shares; and SILVER LAKE GROUP, L.L.C., currently with $143.62 million in SOFI stock with ownership of nearly 0% of the company’s market capitalization.

265 institutional holders increased their position in SoFi Technologies Inc. [NASDAQ:SOFI] by around 46,500,305 shares. Additionally, 159 investors decreased positions by around 127,075,244 shares, while 109 investors held positions by with 145,457,783 shares. The mentioned changes placed institutional holdings at 319,033,332 shares, according to the latest SEC report filing. SOFI stock had 81 new institutional investments in for a total of 13,300,334 shares, while 47 institutional investors sold positions of 100,322,686 shares during the same period.


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