Market cap of SoFi Technologies Inc. [SOFI] reaches 5.69B – now what?

SoFi Technologies Inc. [NASDAQ: SOFI] stock went on a downward path that fall over -8.37% on Friday, amounting to a one-week price decrease of less than -16.96%. The company report on March 2, 2023 that SoFi Named to Fast Company’s Annual List of the World’s Most Innovative Companies for 2023.

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Ranked No. 3 on the prestigious annual list, the digital personal finance company joins the ranks of OpenAI, Disney, Tiffany & Co., and more.

SoFi Technologies, Inc. (NASDAQ: SOFI) has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023.

Over the last 12 months, SOFI stock dropped by -43.47%. The one-year SoFi Technologies Inc. stock forecast points to a potential upside of 26.39. The average equity rating for SOFI stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.69 billion, with 923.18 million shares outstanding and 870.84 million shares in the current float. Compared to the average trading volume of 37.10M shares, SOFI stock reached a trading volume of 86289598 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 $7.58 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 2.10. 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.

JP Morgan have made an estimate for SoFi Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 17, 2023. While these analysts kept the previous recommendation, BofA Securities raised their target price from $8 to $9. The new note on the price target was released on September 14, 2022, representing the official price target for SoFi Technologies Inc. stock. On May 16, 2022, analysts decreased their price target for SOFI shares from 12 to 10.

The Average True Range (ATR) for SoFi Technologies Inc. is set at 0.37, with the Price to Sales ratio for SOFI stock in the period of the last 12 months amounting to 7.36. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 1.54.

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 -16.96. With this latest performance, SOFI shares dropped by -22.50% in over the last four-week period, additionally sinking by -9.85% over the last 6 months – not to mention a drop of -43.47% 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 33.79, with the RSI for the last a single of trading hit 24.52, and the three-weeks RSI is set at 40.15 for SoFi Technologies Inc. [SOFI]. The present Moving Average for the last 50 days of trading for this stock 6.11, while it was recorded at 6.27 for the last single week of trading, and 5.87 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 -7.34 and a Gross Margin at +50.61. SoFi Technologies Inc.’s Net Margin is presently recorded at -18.18.

Return on Equity for this stock declined to -6.27, with Return on Assets sitting at -2.27.

SoFi Technologies Inc. [SOFI] Insider Position Details

There are presently around $1,887 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 68,270,315, which is approximately 2.188% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 35,647,665 shares of the stock with an approximate value of $198.91 million in SOFI stocks shares; and SILVER LAKE GROUP, L.L.C., currently with $173.84 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 Monday and at the time of the Monday reporting period, where 270 institutional holders increased their position in SoFi Technologies Inc. [NASDAQ:SOFI] by around 52,020,704 shares. Additionally, 207 investors decreased positions by around 34,409,491 shares, while 97 investors held positions by with 251,695,592 shares. The mentioned changes placed institutional holdings at 338,125,787 shares, according to the latest SEC report filing. SOFI stock had 98 new institutional investments in for a total of 19,624,668 shares, while 57 institutional investors sold positions of 3,912,546 shares during the same period.


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