William Blair Reiterates Outperform Rating for SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a report issued on Friday,RTT News reports.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Stock Up 0.3 %

SOFI stock traded up $0.06 during mid-day trading on Friday, reaching $18.09. The company had a trading volume of 15,900,419 shares, compared to its average volume of 41,081,289. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a market capitalization of $19.63 billion, a price-to-earnings ratio of 180.85, a PEG ratio of 1.19 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a 50 day simple moving average of $15.62 and a two-hundred day simple moving average of $10.94.

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

Insiders Place Their Bets

In other news, EVP Eric Schuppenhauer acquired 30,600 shares of the company’s stock in a transaction on Monday, December 16th. The stock was bought at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in SoFi Technologies during the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at $28,000. FNY Investment Advisers LLC raised its stake in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies during the 3rd quarter valued at about $47,000. Hedge funds and other 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.