SoFi Technologies, Inc. (NASDAQ:SOFI) Receives $9.32 Average PT from Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.80.

A number of equities analysts recently commented on SOFI shares. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Needham & Company LLC increased their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was 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 in the company, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,697 shares of company stock valued at $723,620 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SOFI. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC grew its stake in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies in the third quarter worth $39,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 2.3 %

NASDAQ:SOFI opened at $15.01 on Friday. The stock has a market cap of $16.29 billion, a PE ratio of 150.12, a price-to-earnings-growth ratio of 2.40 and a beta of 1.60. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $15.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock’s 50-day moving average is $10.28 and its two-hundred day moving average is $8.15.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. As a group, equities research analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

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.