John Hecht, an analyst from Jefferies, maintained the Buy rating on SoFi Technologies. The associated price target is $27.00.
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John Hecht has given his Buy rating due to a combination of factors that highlight SoFi Technologies’ strong financial performance and promising future outlook. The company reported an adjusted EPS of $0.08, surpassing the consensus estimate of $0.06, driven by robust growth in both net interest income and non-interest revenues. This performance was partially offset by higher operating expenses, but overall, the results were impressive.
Furthermore, SoFi achieved record origination volumes, with total originations reaching $8.8 billion, significantly beating the market’s expectation of $7.5 billion. This growth was fueled by strong momentum in personal and home loans, as well as the expansion of their Loan Platform Business. Additionally, the company’s adjusted EBITDA hit a record $249 million, exceeding the consensus of $214 million. The upward adjustment of FY25 guidance across all metrics, including revenue and EBITDA, further supports the positive outlook, as these figures were above the Street’s estimates.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SOFI in relation to earlier this year.