SoFi Technologies Inc (NASDAQ:SOFI) shares are trading lower Wednesday after the company announced a public offering of common stock.
What To Know: SoFi shares rallied to new 52-week highs on Tuesday before pulling back in after-hours after the company announced an underwritten public offering of approximately 71.94 million shares of its common stock at a price of $20.85 per share.
The offering is expected to close on July 31. All shares being sold in the offering are from SoFi. The company anticipates total gross proceeds of $1.5 billion and plans to use any net proceeds for general corporate purposes, including working capital and other business opportunities.
The offering came after SoFi reported strong financial results for the second quarter and raised its full-year outlook. SoFi reported second-quarter revenue of $858.23 million versus estimates of $801.49 million, and adjusted earnings of 8 cents per share versus estimates of 6 cents per share.
Total revenue increased 44% year-over-year and members grew 34% year-over-year to 11.7 million. SoFi said it expects full-year 2025 revenue of $3.38 billion versus estimates of $3.27 billion, and full-year earnings of 31 cents per share versus estimates of 28 cents per share, per Benzinga Pro.
Following the print, Needham analyst Kyle Peterson maintained SoFi with a Buy rating and raised the price target from $20 to $25.
How To Buy SOFI Stock
By now you're likely curious about how to participate in the market for SoFi – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
SOFI Price Action: SoFi shares were down 7.05% at $20.82 at the time of publication Wednesday, according to Benzinga Pro.
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