SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Has Consensus Price Target of $21.27 According to Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned an average recommendation of “Hold” from the twenty-four ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $21.27.

SOFI has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Mizuho cut their price target on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Benchmark reissued a “sector outperform” rating on shares of SoFi Technologies in a report on Wednesday, October 28th. Weiss Ratings upgraded SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Finally, Truist Financial increased their price target on SoFi Technologies from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Tuesday, November 3rd.

SoFi Technologies Trading Down 1.3%

SOFI stock traded down $0.21 during mid-day trading on Tuesday, reaching $15.42. The company’s stock had a trading volume of 38,131,298 shares, compared to its average volume of 56,805,356. The company has a market cap of $19.92 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 0.97 and a beta of 2.25. SoFi Technologies has a 12 month low of $13.86 and a 12 month high of $30.42. The business’s 50 day moving average price is $16.17 and its 200 day moving average price is $17.41. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.34.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 27th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. SoFi Technologies had a return on equity of 6.81% and a net margin of 15.60%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $0.11 EPS. The firm’s revenue was up 44.4% compared to the same quarter last year. On average, equities research analysts predict that SoFi Technologies will post 0.61 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the transaction, the executive vice president directly owned 356,442 shares of the company’s stock, valued at $6,415,956. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of SoFi Technologies stock in a transaction on Monday, September 21st. The stock was sold at an average price of $17.50, for a total value of $325,920.00. Following the sale, the chief technology officer owned 912,650 shares in the company, valued at $15,971,375. The trade was a 2.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 50,316 shares of company stock valued at $852,605. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. BlackRock Inc. purchased a new position in shares of SoFi Technologies during the 2nd quarter valued at about $1,298,925,000. Bank of America Corp DE bought a new stake in SoFi Technologies in the 2nd quarter worth $163,808,000. Dimensional Fund Advisors LP increased its position in shares of SoFi Technologies by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock valued at $144,539,000 after acquiring an additional 359,785 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of SoFi Technologies in the second quarter valued at about $93,937,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of SoFi Technologies by 4.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,925,068 shares of the company’s stock valued at $88,306,000 after acquiring an additional 198,336 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

Key SoFi Technologies News

Here’s some of the latest news about SOFI:

• Positive Sentiment: SoFi launched SoFi Earn, described as the first interest-bearing tokenized deposit product at a U.S. national bank. ARK Invest also recently bought shares, adding a vote of confidence from a prominent growth investor. Article: SoFi Technologies Introduced The First Tokenized Deposit Product At A US Bank
• Negative Sentiment: One article says SoFi shareholders were down 43.1% year to date and points to interest rates, regulation, and competitive pressure as factors challenging the bullish growth thesis. Those risks may temper enthusiasm despite strong member and product growth. Article: What SoFi Technologies Investors Missed Before The Fall
• Neutral Sentiment: Coverage comparing SoFi with Upstart questions whether strong loan growth can continue, keeping future credit demand and growth durability in focus. Article: SoFi vs. Upstart: Which Fintech Stock is the Better Buy Right Now?

SoFi Technologies Company Profile

SoFi Technologies, Inc. is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings. Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.