Keefe, Bruyette & Woods Reaffirms Underperform Rating for SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “underperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a report released on Thursday, MarketBeat.com reports. They presently have a $8.00 price target on the stock, up from their prior price target of $7.00. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 46.09% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.13.

SoFi Technologies Trading Up 5.0 %

Shares of NASDAQ:SOFI opened at $14.84 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock’s 50-day moving average is $14.59 and its 200-day moving average is $10.04. The company has a market cap of $16.10 billion, a P/E ratio of 148.41, a P/E/G ratio of 2.70 and a beta of 1.77. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last posted 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. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the prior year, the business earned ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts predict that SoFi Technologies will post 0.12 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 in the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in SoFi Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the third quarter worth $28,000. Allspring Global Investments Holdings LLC lifted its stake in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the third quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in SoFi Technologies in the third quarter worth about $47,000. 38.43% of the stock is owned by institutional investors.

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.