Needham & Company LLC Increases SoFi Technologies (NASDAQ:SOFI) Price Target to $20.00

SoFi Technologies (NASDAQ:SOFI) had its price objective upped by Needham & Company LLC from $13.00 to $20.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

SOFI has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Finally, Morgan Stanley lifted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Up 0.6 %

NASDAQ:SOFI opened at $16.17 on Tuesday. The company has a market capitalization of $17.55 billion, a PE ratio of 161.72, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $18.42. The stock has a fifty day simple moving average of $15.78 and a 200-day simple moving average of $11.22.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts expect that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sei Investments Co. raised its position in shares of SoFi Technologies by 8.8% in the 2nd quarter. Sei Investments Co. now owns 38,976 shares of the company’s stock valued at $258,000 after purchasing an additional 3,139 shares in the last quarter. Xponance Inc. raised its position in shares of SoFi Technologies by 53.0% in the 2nd quarter. Xponance Inc. now owns 52,795 shares of the company’s stock valued at $349,000 after purchasing an additional 18,285 shares in the last quarter. AQR Capital Management LLC raised its position in shares of SoFi Technologies by 58.8% in the 2nd quarter. AQR Capital Management LLC now owns 115,186 shares of the company’s stock valued at $756,000 after purchasing an additional 42,660 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of SoFi Technologies by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 263,826 shares of the company’s stock valued at $1,744,000 after purchasing an additional 30,206 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of SoFi Technologies by 28.2% in the 2nd quarter. Algert Global LLC now owns 286,786 shares of the company’s stock valued at $1,896,000 after purchasing an additional 63,076 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

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.