SoFi Technologies (NASDAQ:SOFI) PT Lowered to $11.00

SoFi Technologies (NASDAQ:SOFI) had its price objective cut by analysts at Deutsche Bank Aktiengesellschaft from $12.00 to $11.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 61.76% from the company’s current price.

Several other equities research analysts also recently commented on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Mizuho lowered their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Finally, Wedbush restated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Price Performance

SOFI traded down $0.25 during trading on Tuesday, reaching $6.80. The stock had a trading volume of 59,972,009 shares, compared to its average volume of 54,013,777. SoFi Technologies has a 1-year low of $4.45 and a 1-year high of $11.70. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of -17.82 and a beta of 1.75. The stock has a 50 day moving average of $7.61 and a two-hundred day moving average of $7.88. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period in the previous year, the company earned ($0.05) earnings per share. SoFi Technologies’s revenue was up 26.2% compared to the same quarter last year. As a group, equities analysts anticipate that SoFi Technologies will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in shares of SoFi Technologies in the fourth quarter worth about $27,000. Westside Investment Management Inc. grew its position in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the period. Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies in the 1st quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC bought a new position in SoFi Technologies in the fourth quarter worth $39,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.