For SoFi Technologies Inc [SOFI], Analyst sees a drop to $6.50. What next?

SoFi Technologies Inc [NASDAQ: SOFI] stock went on a downward path that fall over -0.82% on Thursday, amounting to a one-week price decrease of less than -1.88%. The company report on March 19, 2024 at 7:00 AM that Galileo Expands Buy Now Pay Later Solution to Include Post-Purchase Options for Credit and Debit.

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Galileo Financial Technologies, a leading financial technology company owned by SoFi Technologies, Inc. (NASDAQ: SOFI), announced today an expansion of its Buy Now, Pay Later offering that allows banks and fintechs to offer cardholders new post-purchase installment payment options via their existing debit or credit card account.

Over the last 12 months, SOFI stock rose by 30.59%. The one-year SoFi Technologies Inc stock forecast points to a potential upside of 13.71. The average equity rating for SOFI stock is currently 3.18, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $7.13 billion, with 975.86 million shares outstanding and 903.69 million shares in the current float. Compared to the average trading volume of 56.12M shares, SOFI stock reached a trading volume of 29906288 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 $8.46 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 3.18. 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 0.34, with the Price to Sales ratio for SOFI stock in the period of the last 12 months amounting to 2.45. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 4.25. Price to Free Cash Flow for SOFI in the course of the last twelve months was 16.56.

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 -1.88. With this latest performance, SOFI shares dropped by -17.61% in over the last four-week period, additionally sinking by -3.95% over the last 6 months – not to mention a rise of 30.59% 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 44.42, with the RSI for the last a single of trading hit 44.96, and the three-weeks RSI is set at 44.98 for SoFi Technologies Inc [SOFI]. The present Moving Average for the last 50 days of trading for this stock 7.86, while it was recorded at 7.32 for the last single week of trading, and 8.27 for the last 200 days.

SOFI Stock EPS

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.

SoFi Technologies Inc [SOFI] Institutonal Ownership Details

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%.