SoFi Technologies’ (SOFI) “Buy” Rating Reaffirmed at Needham & Company LLC

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 44.51% from the stock’s current price.

SOFI has been the topic of several other reports. Morgan Stanley reissued an “underweight” rating and set a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Mizuho dropped 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 Thursday, January 18th. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday. Finally, Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Up 2.1 %

SOFI stock opened at $6.92 on Tuesday. 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 firm has a market capitalization of $6.76 billion, a PE 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. The business’s 50 day simple moving average is $7.58 and its 200 day simple moving average is $7.87.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period in the prior year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, research analysts anticipate that SoFi Technologies will post 0.08 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm’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 owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in SoFi Technologies by 15.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,263,475 shares of the company’s stock worth $9,223,000 after acquiring an additional 166,271 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of SoFi Technologies in the first quarter valued at $6,912,000. Van ECK Associates Corp raised its stake in shares of SoFi Technologies by 50.5% in the first quarter. Van ECK Associates Corp now owns 288,438 shares of the company’s stock valued at $2,106,000 after buying an additional 96,845 shares during the period. HB Wealth Management LLC purchased a new position in shares of SoFi Technologies in the first quarter valued at $176,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of SoFi Technologies in the first quarter valued at $179,000. 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.