Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) PT at $9.32

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.40.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th.

SoFi Technologies Stock Up 1.7 %

SOFI stock opened at $13.63 on Friday. The company’s 50 day moving average is $9.70 and its 200 day moving average is $7.95. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 136.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $14.44.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts predict that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock worth $904,677 in the last three months. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the third quarter worth about $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC lifted its stake in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. GAMMA Investing LLC boosted its position in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in SoFi Technologies in the third quarter worth $39,000. Institutional investors 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.