Citigroup Boosts SoFi Technologies (NASDAQ:SOFI) Price Target to $18.00

SoFi Technologies (NASDAQ:SOFI) had its price objective increased by stock analysts at Citigroup from $12.50 to $18.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 22.78% from the stock’s previous close.

A number of other brokerages also recently issued reports on SOFI. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Barclays boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. 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. Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $11.71.

SoFi Technologies Stock Performance

NASDAQ SOFI traded up $0.59 during trading on Tuesday, hitting $14.66. 22,152,853 shares of the company’s stock traded hands, compared to its average volume of 38,063,836. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 146.61, a PEG ratio of 2.70 and a beta of 1.78. 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 business has a 50 day moving average of $15.02 and a 200-day moving average of $10.43. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $17.19.

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

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the transaction, the executive vice president now owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. The trade was a 4.53 % 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 worth $416,889,795 over the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC boosted its stake in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in SoFi Technologies in the third quarter worth about $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $28,000. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies in the third quarter worth approximately $39,000. Finally, AdvisorNet Financial Inc grew its position in SoFi Technologies by 63.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock valued at $84,000 after buying an additional 2,130 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.