SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $13.00

SoFi Technologies (NASDAQ:SOFI) had its price objective boosted by Needham & Company LLC from $10.00 to $13.00 in a report issued on Wednesday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods cut their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.32.

SoFi Technologies Trading Down 1.2 %

Shares of SOFI stock opened at $11.04 on Wednesday. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 110.41, a PEG ratio of 1.89 and a beta of 1.70. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $11.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The company has a 50-day simple moving average of $8.67 and a two-hundred day simple moving average of $7.56.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts anticipate that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock worth $904,677 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in SOFI. Benjamin F. Edwards & Company Inc. raised its holdings in SoFi Technologies by 4,252.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares in the last quarter. Mark Asset Management LP raised its holdings in SoFi Technologies by 79.9% in the second quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after purchasing an additional 151,265 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in SoFi Technologies by 64.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after purchasing an additional 115,316 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in SoFi Technologies by 233.3% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $661,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in SoFi Technologies by 7.4% in the third quarter. Diversify Advisory Services LLC now owns 813,589 shares of the company’s stock worth $6,395,000 after purchasing an additional 56,245 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.