Deutsche Bank Aktiengesellschaft Cuts SoFi Technologies (NASDAQ:SOFI) Price Target to $11.00

SoFi Technologies (NASDAQ:SOFI) had its price objective lowered by investment analysts at Deutsche Bank Aktiengesellschaft from $12.00 to $11.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 58.96% from the stock’s current price.

A number of other brokerages have also recently weighed in on SOFI. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday. 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 research report on Wednesday, January 31st. Wedbush reaffirmed an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Jefferies Financial Group dropped their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $6.92 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $6.76 billion, a PE ratio of -22.32 and a beta of 1.75. The company has a 50 day moving average price of $7.58 and a two-hundred day moving average price of $7.87. SoFi Technologies has a 12-month low of $4.45 and a 12-month high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The company’s revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, equities analysts predict that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in SoFi Technologies by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,263,475 shares of the company’s stock worth $9,223,000 after buying an additional 166,271 shares in the last quarter. Diversify Advisory Services LLC acquired a new position in SoFi Technologies during the 1st quarter valued at about $6,912,000. Van ECK Associates Corp lifted its position in SoFi Technologies by 50.5% during the 1st quarter. Van ECK Associates Corp now owns 288,438 shares of the company’s stock valued at $2,106,000 after purchasing an additional 96,845 shares during the period. HB Wealth Management LLC acquired a new position in SoFi Technologies during the 1st quarter valued at about $176,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in SoFi Technologies during the 1st quarter valued at about $179,000. Institutional investors and hedge funds 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.