SoFi Technologies, Inc. (NASDAQ:SOFI) Receives $12.50 Average Price Target from Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.50.

A number of brokerages have weighed in on SOFI. Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Finally, UBS Group increased their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th.

SoFi Technologies Trading Up 3.0 %

Shares of SoFi Technologies stock opened at $10.98 on Monday. The company’s 50-day moving average price is $12.60 and its 200-day moving average price is $13.56. The company has a market cap of $12.04 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 2.24 and a beta of 1.86. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the business posted $0.04 earnings per share. On average, equities analysts expect that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $1,308,075 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of SoFi Technologies in the 4th quarter worth approximately $299,980,000. Geode Capital Management LLC lifted its stake in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock valued at $276,288,000 after purchasing an additional 315,899 shares during the period. Norges Bank bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $103,678,000. Finally, Charles Schwab Investment Management Inc. grew its stake in SoFi Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock worth $97,230,000 after purchasing an additional 167,780 shares during the period. 38.43% of the stock is currently owned by institutional investors.

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.