What's Going On With SoFi Technologies Stock?

SoFi Technologies, Inc. SOFI shares are trading higher Monday on overall market strength as the S&P 500 trades at all-time highs.

What To Know:

In mid-January, Deutsche Bank analyst Mark Devries initiated coverage on SoFi Technologies with a Hold rating and a price target of $11. The analyst noted that SoFi’s financial services segment has been delivering consistently robust product growth and is starting to realize operating leverage.

Last week, Mizuho analyst Dan Dolev maintained SoFi Technologies with a Buy and lowered the price target from $15 to $12.

Though SoFi shares are trending higher Monday, the stock remains down by 17% year-to-date. According to data from Benzinga Pro, SoFi shares are trading below the stock’s 50-day moving average of $8.13 and 13.17% of shares are being sold short

SoFi Technologies is set to report its fourth-quarter financial results before the market open on Jan. 29 and will host a conference call to discuss the results at 8:00 a.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report earnings of 0 cents per share and quarterly revenue of $571.489 million.

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Is SOFI A Good Buy: An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like SoFi Techs‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.

These are known as capital allocation programs. SoFi Technologies does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.

Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on SoFi Techs will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

SOFI Price Action: According to Benzinga Pro, SoFi Technologies shares are up 6.48% at $7.97 at the time of publication.

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