SoFi Technologies Inc. (NASDAQ: SOFI) stock jumped 0.22% on Friday to $9.07 against a previous-day closing price of $9.05. With 30.4 million shares changed hands, the volume of the stock remained lighter than its average volume of 39.89 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $9.14 whereas the lowest price it dropped to was $8.88. The 52-week range on SOFI shows that it touched its highest point at $11.70 and its lowest point at $4.24 during that stretch. It currently has a 1-year price target of $10.26. Beta for the stock currently stands at 1.88.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SOFI was up-trending over the past week, with a rise of 6.08%, but this was up by 9.81% over a month. Three-month performance dropped to -5.03% while six-month performance rose 66.42%. The stock gained 47.00% in the past year, while it has gained 96.75% so far this year. A look at the trailing 12-month EPS for SOFI yields -0.26 with Next year EPS estimates of 0.04. For the next quarter, that number is -0.07. This implies an EPS growth rate of 59.80% for this year and 115.00% for next year.
Float and Shares Shorts:
At present, 936.57 million SOFI shares are outstanding with a float of 854.70 million shares on hand for trading. On Aug 30, 2023, short shares totaled 104.1 million, which was 10.96% higher than short shares on Jul 30, 2023. In addition to SOFI as the firm’s SoFi Technologies, Inc., SOI serves as its Solaris Oilfield Infrastructure.
Institutional Ownership:
Through their ownership of 35.51% of SOFI’s outstanding shares, institutional investors have minority control over the company.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SOFI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SOFI analysts setting a high price target of $16.00 and a low target of $3.00, the average target price over the next 12 months is $10.32. Based on these targets, SOFI could surge 76.41% to reach the target high and fall by -66.92% to reach the target low. Reaching the average price target will result in a growth of 13.78% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded SOFI stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 108,618 shares were bought while 20,577 shares were sold. The number of buy transactions has increased to 54 while that of sell transactions has risen to 40 over the past year. The total number of shares bought during that period was 7,325,705 while 3,243,263 shares were sold.
