JMP Securities Begins Coverage on SoFi Technologies (NASDAQ:SOFI)

Analysts at JMP Securities began coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research note issued to investors on Friday,Benzinga reports. The firm set a “market outperform” rating and a $17.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 31.99% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Citizens Jmp initiated coverage on SoFi Technologies in a research report on Friday. They issued an “outperform” rating and a $17.00 target price on the stock. UBS Group upped their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.10.

SoFi Technologies Trading Up 4.6 %

Shares of NASDAQ:SOFI opened at $12.88 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a market cap of $14.12 billion, a P/E ratio of 34.81, a PEG ratio of 2.24 and a beta of 1.86. The stock’s fifty day moving average price is $12.20 and its 200-day moving average price is $13.64.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (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 quarter in the previous year, the company posted $0.04 EPS. Sell-side analysts expect that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the transaction, the executive vice president now owns 215,029 shares of the company’s stock, valued at approximately $2,302,960.59. The trade was a 4.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,172 shares of company stock valued at $1,271,115. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of SoFi Technologies in the third quarter valued at $1,649,000. World Investment Advisors LLC raised its position in shares of SoFi Technologies by 6.5% during the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock valued at $171,000 after buying an additional 1,336 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of SoFi Technologies by 40.3% in the 4th quarter. GAMMA Investing LLC now owns 5,925 shares of the company’s stock valued at $91,000 after acquiring an additional 1,703 shares during the last quarter. Everence Capital Management Inc. bought a new stake in SoFi Technologies during the fourth quarter worth approximately $498,000. Finally, Waller Financial Planning Group Inc. raised its position in SoFi Technologies by 3,027.5% during the fourth quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock valued at $157,000 after purchasing an additional 9,900 shares during the period. Hedge funds and other institutional investors 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.