SoFi Technologies (NASDAQ:SOFI) Trading Up 0.1%

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price traded up 0.1% during trading on Friday . The company traded as high as $7.24 and last traded at $7.00. 23,220,771 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 53,927,355 shares. The stock had previously closed at $6.99.

Wall Street Analysts Forecast Growth

Several research firms have commented on SOFI. Jefferies Financial Group reduced their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Citigroup started coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, The Goldman Sachs Group lifted 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. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Price Performance

The company has a 50 day moving average of $7.51 and a 200 day moving average of $7.85. 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 $6.80 billion, a price-to-earnings ratio of -22.45 and a beta of 1.75.

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

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $27,000. Westside Investment Management Inc. grew its position in SoFi Technologies by 93.8% in 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 in the last quarter. SOA Wealth Advisors LLC. raised its stake in shares of SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of SoFi Technologies during the first quarter worth $37,000. Finally, Tortoise Investment Management LLC purchased a new position in shares of SoFi Technologies in the fourth quarter valued at $39,000. 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.