SoFi Technologies, Inc. (NASDAQ:SOFI) Receives $9.08 Consensus Target Price from Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have earned an average recommendation of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $9.08.

A number of research firms have recently issued reports on SOFI. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a report on Tuesday. Jefferies Financial Group decreased their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Mizuho dropped their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Morgan Stanley reissued an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Finally, Wedbush reaffirmed an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday.

SoFi Technologies Trading Up 2.1 %

Shares of SOFI opened at $6.92 on Monday. The business’s 50-day moving average price is $7.58 and its 200 day moving average price is $7.87. 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 $6.76 billion, a P/E ratio of -22.32 and a beta of 1.75. SoFi Technologies has a 1-year low of $4.45 and a 1-year high of $11.70.

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

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The stock was 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 of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently modified their holdings of SOFI. GAMMA Investing LLC acquired a new position in shares of SoFi Technologies during the fourth quarter valued at about $27,000. Westside Investment Management Inc. increased 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 valued at $31,000 after acquiring an additional 1,500 shares during the period. Tortoise Investment Management LLC acquired a new position in SoFi Technologies in the 4th quarter valued at approximately $39,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $40,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $44,000. 38.43% of the stock is owned by 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.