Market Analysts see SoFi Technologies Inc [SOFI] falling to $6.50. Time to buy?

SoFi Technologies Inc [NASDAQ: SOFI] traded at a high on Friday, posting a 0.12 gain after which it closed the day’ session at $8.17. The company report on February 13, 2024 at 9:00 AM that SoFi Named the Official Banking Partner of the NBA, NBA G League, NBA 2K League and USA Basketball.

– SoFi Becomes Multi-Year Entitlement Partner of SoFi NBA Play-In Tournament –.

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– SoFi Partners with Five-Time NBA All-Star Jayson Tatum to Establish $1M Generational Wealth Fund to Expand Financial Literacy, Close Wealth Gap –.

The results of the trading session contributed to over 26707898 shares changing hands. Over the past one week, the price volatility of SoFi Technologies Inc stands at 3.28% while the volatility over the past one month is 4.86%.

The market cap for SOFI stock reached $7.83 billion, with 975.86 million shares outstanding and 886.40 million shares in the current float. Compared to the average trading volume of 51.48M shares, SOFI reached a trading volume of 26707898 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $9.28 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 2.95. 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.

Morgan Stanley have made an estimate for SoFi Technologies Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 31, 2024. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on January 10, 2024, representing the official price target for SoFi Technologies Inc stock. Previously, the target price had yet another drop from $7.50 to $6.50, while Keefe Bruyette kept a Underperform rating on SOFI stock.

The Average True Range (ATR) for SoFi Technologies Inc is set at 0.41, with the Price to Sales ratio for SOFI stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 1.52, with the Price to Cash per share for the same quarter was set at 3.77. Price to Free Cash Flow for SOFI in the course of the last twelve months was 26.32.

How has SOFI stock performed recently?

SoFi Technologies Inc [SOFI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.22. With this latest performance, SOFI shares gained by 8.07% in over the last four-week period, additionally sinking by -3.08% over the last 6 months – not to mention a rise of 24.92% 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 50.00, with the RSI for the last a single of trading hit 49.93, and the three-weeks RSI is set at 49.93 for SoFi Technologies Inc [SOFI]. The present Moving Average for the last 50 days of trading for this stock 8.48, while it was recorded at 8.26 for the last single week of trading, and 8.08 for the last 200 days.

Earnings analysis for SoFi Technologies Inc [SOFI]

With the latest financial reports released by the company, SoFi Technologies Inc posted -0.05/share EPS, while the average EPS was predicted by analysts to be reported at -0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 28.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SOFI.

Insider trade positions for SoFi Technologies Inc [SOFI]

The top three institutional holders of SOFI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SOFI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SOFI stock with ownership which is approximately 5.8325%.