SoFi Technologies, Inc. Stock Could See Upward Trajectory with Positive News Sentiment

Stock Overview

The stock in focus is that of SoFi Technologies, Inc., ticker symbol "SOFI", which trades on the NASDAQ exchange. The company ended its last trading day on July 18, 2023, with its shares closing at $9.57, marking a change of 0.09, a 0.95% increase.

Price Performance and Trading Volume

For the day, the stock recorded a low of $9.43 and a high of $9.74. It has had a tumultuous year, with the lowest share value recorded at $4.24 and the high at $10.23. When it comes to trading volume, 33.67 million shares of SoFi Technologies were transacted, compared to the average daily volume of 54.16 million shares.

Looking at market capitalization, SoFi Technologies stands at $9 billion with 940.9 million shares outstanding.

Technical Indicators

SOFI has an RSI14 of 65, indicating that the stock could be approaching overbought territory and may see some resting or a potential pullback in the near term. The 50-day moving average is $7.29 while the 200-day moving average is $5.98. The MACD, a trend-following momentum indicator, is currently at 0.053469, a bullish signal.

Fundamental Analysis

From a fundamental perspective, SoFi has a negative EPS of $-0.31 leading to a negative PE ratio of -30.87, indicating that the company is currently not profitable. The forecasted discounted cash flow (DCF) is reported at $11.15, presenting potential upside from the current price.

Analysts' Targets and News Sentiment

Considering the advice of market analysts, the target price for SoFi shares ranges between $2.5 (lowest) to $22 (highest). The consensus target is $10.23, whereas the median estimate stands at $8.

On the news front, SoFi has attracted the attention of well-known investors like Cathie Wood, who was reported buying shares in the company. The fast growth and improving profitability, along with the expansion of offerings in SoFi's platform, have been some factors garnering interest. Some recent articles also hint at SoFi's potential to become the "Bank of the Future".

Price Prediction

Given the solid technical and fundamental backing combined with positive news sentiment, SoFi's stocks could witness an upward trajectory in the short-term. For the next trading day on July 19, 2023, the anticipation is for the stock to adhere to the ongoing bull run and probably challenge the close-to-overbought conditions. For the forthcoming week, the momentum might push the stock closer to the consensus target of $10.23.

Evaluation

In light of the overall analysis, SoFi Technologies, Inc. is rated as a 'Buy'. However, potential investors should keep an eye on volume changes and the RSI, which may signal overbought conditions and could lead to a meanwhile pullback or resting. Additionally, since the company is currently unprofitable, as indicated by its negative EPS, investors should balance this growth perspective investment with other diversified assets in their portfolio.