SoFi Technologies (NASDAQ:SOFI) PT Lowered to $12.00

SoFi Technologies (NASDAQ:SOFIGet Free Report) had its price objective cut by stock analysts at Jefferies Financial Group from $15.00 to $12.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 63.04% from the company’s current price.

A number of other research firms also recently issued reports on SOFI. Mizuho dropped their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of SoFi Technologies in a report on Wednesday, January 10th. They set a “hold” rating and a $11.00 target price for the company. Finally, Wedbush reaffirmed an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.97.

View Our Latest Stock Report on SOFI

SoFi Technologies Trading Up 2.2 %

Shares of SOFI opened at $7.36 on Tuesday. SoFi Technologies has a twelve month low of $4.45 and a twelve month high of $11.70. 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 company has a market cap of $7.19 billion, a P/E ratio of -19.37 and a beta of 1.80. The company’s fifty day simple moving average is $7.89 and its 200-day simple moving average is $8.01.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last released its earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business’s revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. As a group, analysts expect that SoFi Technologies will post 0.07 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by company insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. Moneta Group Investment Advisors LLC acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $83,643,000. Norges Bank purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $44,799,000. State Street Corp lifted its position in SoFi Technologies by 76.6% in the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock valued at $61,590,000 after acquiring an additional 5,068,034 shares during the last quarter. Vanguard Group Inc. increased its stake in SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new position in SoFi Technologies during the fourth quarter worth about $38,595,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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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.

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Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

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