Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) Price Target at $9.08

SoFi Technologies, Inc. (NASDAQ:SOFIGet Free Report) has received a consensus rating of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $9.32.

Several equities analysts have issued reports on SOFI shares. Jefferies Financial Group lowered their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Wedbush restated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lowered their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $6.50 to $7.50 in a research report on Friday, April 5th.

View Our Latest Stock Report on SoFi Technologies

SoFi Technologies Trading Up 3.5 %

NASDAQ:SOFI opened at $6.54 on Tuesday. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of -21.10, a PEG ratio of 1.46 and a beta of 1.72. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average price is $6.99 and its 200-day moving average price is $7.75. SoFi Technologies has a 52 week low of $6.20 and a 52 week high of $11.70.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last issued its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company’s revenue was up 26.2% compared to the same quarter last year. During the same period last year, the business posted ($0.05) EPS. On average, equities research analysts forecast that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the transaction, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Anthony Noto bought 28,900 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the transaction, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. Insiders have acquired 88,390 shares of company stock worth $597,569 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in the company. Wedmont Private Capital raised its holdings in shares of SoFi Technologies by 13.2% during the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock worth $120,000 after acquiring an additional 1,411 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of SoFi Technologies by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after buying an additional 1,498 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of SoFi Technologies by 93.8% in the 4th 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 during the last quarter. EP Wealth Advisors LLC raised its position in shares of SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after buying an additional 1,508 shares in the last quarter. Finally, River Street Advisors LLC raised its stake in shares of SoFi Technologies by 4.5% in the fourth quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock valued at $352,000 after acquiring an additional 1,526 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

About SoFi Technologies

(Get Free Report

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.

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Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

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