SoFi Technologies, Inc. (NASDAQ:SOFI) Given Average Recommendation of “Hold” by Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has been given an average recommendation of “Hold” by the nineteen ratings firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $9.08.

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday. Mizuho reduced their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Jefferies Financial Group decreased their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Citigroup began coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 target price (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st.

SoFi Technologies Trading Down 0.4 %

Shares of SOFI stock opened at $6.96 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of -22.58 and a beta of 1.75. SoFi Technologies has a 12-month low of $4.45 and a 12-month high of $11.70. The stock’s 50-day moving average price is $7.53 and its 200-day moving average price is $7.86.

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

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. GAMMA Investing LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $27,000. Westside Investment Management Inc. raised its stake in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of 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 shares of SoFi Technologies during the 1st quarter valued at $37,000. Finally, Tortoise Investment Management LLC acquired a new stake in shares of SoFi Technologies during the 4th quarter worth $39,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.