Deutsche Bank Aktiengesellschaft Trims SoFi Technologies (NASDAQ:SOFI) Target Price to $11.00

SoFi Technologies (NASDAQ:SOFI) had its target price cut by Deutsche Bank Aktiengesellschaft from $12.00 to $11.00 in a report published on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages also recently commented on SOFI. Morgan Stanley reaffirmed an underweight rating and set a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Needham & Company LLC reaffirmed a buy rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday. Jefferies Financial Group reduced 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. Citigroup assumed coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They set a buy rating and a $11.00 target price on the stock. Finally, Mizuho reduced 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 Thursday, January 18th. Three investment 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, the stock has an average rating of Hold and an average target price of $9.08.

SoFi Technologies Stock Performance

SOFI opened at $6.96 on Tuesday. The firm has a market capitalization of $6.80 billion, a PE ratio of -22.45 and a beta of 1.75. SoFi Technologies has a twelve month low of $4.45 and a twelve month high of $11.70. The firm’s 50-day moving average price is $7.53 and its 200 day moving average price is $7.86. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. SoFi Technologies’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, sell-side analysts expect that SoFi Technologies will post 0.08 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $27,000. Westside Investment Management Inc. boosted 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 valued at $31,000 after buying an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in SoFi Technologies in the 1st quarter valued at $37,000. Finally, Tortoise Investment Management LLC purchased a new stake in SoFi Technologies in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.