SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus Recommendation of “Hold” from Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has been assigned an average recommendation of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.93.

A number of research analysts recently commented on SOFI shares. UBS Group started coverage on SoFi Technologies in a report on Friday, October 20th. They issued a “neutral” rating and a $7.00 price objective on the stock. Mizuho upped their price target on SoFi Technologies from $9.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Piper Sandler upped their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, August 18th. Bank of America decreased their price target on SoFi Technologies from $11.50 to $10.00 in a research note on Thursday, October 5th. Finally, Morgan Stanley upgraded SoFi Technologies from an “underweight” rating to an “equal weight” rating and set a $7.00 price target on the stock in a research note on Tuesday, October 31st.

SoFi Technologies Trading Up 1.3 %

SOFI opened at $6.94 on Monday. SoFi Technologies has a one year low of $4.24 and a one year high of $11.70. The stock has a market capitalization of $6.59 billion, a PE ratio of -15.42 and a beta of 1.88. The business’s 50 day moving average price is $7.93 and its 200 day moving average price is $7.88. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.29 and a current ratio of 1.65.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, October 30th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. SoFi Technologies had a negative return on equity of 2.90% and a negative net margin of 20.31%. The firm had revenue of $564.20 million for the quarter, compared to analysts’ expectations of $511.30 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, equities research analysts expect that SoFi Technologies will post -0.17 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, insider Chad M. Borton sold 152,041 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $7.99, for a total value of $1,214,807.59. Following the transaction, the insider now owns 157,857 shares of the company’s stock, valued at $1,261,277.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Chad M. Borton sold 152,041 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $7.99, for a total value of $1,214,807.59. Following the transaction, the insider now owns 157,857 shares of the company’s stock, valued at $1,261,277.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Webb Lauren Stafford sold 135,832 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $7.58, for a total value of $1,029,606.56. Following the completion of the transaction, the chief marketing officer now directly owns 257,608 shares in the company, valued at approximately $1,952,668.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 341,405 shares of company stock valued at $2,719,778. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of the business. Fairfield Bush & CO. grew its holdings in shares of SoFi Technologies by 41.6% during the first quarter. Fairfield Bush & CO. now owns 16,000 shares of the company’s stock worth $151,000 after purchasing an additional 4,700 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of SoFi Technologies by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 1,266,962 shares of the company’s stock worth $11,973,000 after purchasing an additional 22,288 shares during the last quarter. US Bancorp DE grew its holdings in shares of SoFi Technologies by 197.0% during the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in shares of SoFi Technologies during the first quarter worth about $435,000. Finally, Cibc World Market Inc. grew its holdings in shares of SoFi Technologies by 4.7% during the first quarter. Cibc World Market Inc. now owns 54,765 shares of the company’s stock worth $518,000 after purchasing an additional 2,454 shares during the last quarter. Hedge funds and other institutional investors own 37.13% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.