SoFi Technologies (NASDAQ:SOFI) Rating Reiterated by Needham & Company LLC

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 41.94% from the company’s current price.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on SoFi Technologies in a research report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price target for the company. Morgan Stanley restated an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Citigroup assumed coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target for the company. Wedbush restated an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a research report on Tuesday. Finally, Mizuho lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Trading Down 10.5 %

Shares of SoFi Technologies stock opened at $7.05 on Tuesday. The firm has a market capitalization of $6.88 billion, a price-to-earnings ratio of -18.54 and a beta of 1.75. SoFi Technologies has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The stock has a 50 day moving average of $7.61 and a 200 day moving average of $7.88.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 29th. The company reported $0.02 EPS for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. During the same period last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 34.7% on a year-over-year basis. As a group, research analysts predict that SoFi Technologies will post 0.08 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of SoFi Technologies by 5.6% during the first quarter. Commonwealth Equity Services LLC now owns 608,576 shares of the company’s stock worth $4,443,000 after purchasing an additional 32,114 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of SoFi Technologies by 37.1% during the first quarter. Principal Financial Group Inc. now owns 80,650 shares of the company’s stock worth $589,000 after purchasing an additional 21,805 shares in the last quarter. Trueblood Wealth Management LLC increased its position in shares of SoFi Technologies by 41.0% during the first quarter. Trueblood Wealth Management LLC now owns 22,103 shares of the company’s stock worth $161,000 after purchasing an additional 6,426 shares in the last quarter. McGuire Investment Group LLC increased its position in shares of SoFi Technologies by 10.2% during the first quarter. McGuire Investment Group LLC now owns 39,950 shares of the company’s stock worth $292,000 after purchasing an additional 3,700 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of SoFi Technologies by 36.1% during the first quarter. UMB Bank n.a. now owns 31,237 shares of the company’s stock worth $228,000 after purchasing an additional 8,278 shares in the last quarter. Institutional investors and hedge funds 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.