SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $8.00

SoFi Technologies (NASDAQ:SOFIGet Free Report) had its target price hoisted by analysts at The Goldman Sachs Group from $7.00 to $8.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 2.17% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. UBS Group assumed coverage on SoFi Technologies in a research note on Friday, October 20th. They issued a “neutral” rating and a $7.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SoFi Technologies in a research report on Wednesday, January 10th. They issued a “hold” rating and a $11.00 target price for the company. Bank of America lowered their price objective on SoFi Technologies from $11.50 to $10.00 in a report on Thursday, October 5th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $6.50 target price (down previously from $7.50) on shares of SoFi Technologies in a report on Wednesday, January 3rd. Finally, Truist Financial dropped their price target on SoFi Technologies from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and a consensus target price of $8.78.

Read Our Latest Research Report on SOFI

SoFi Technologies Trading Down 6.8 %

NASDAQ:SOFI opened at $7.83 on Tuesday. SoFi Technologies has a 12 month low of $4.45 and a 12 month high of $11.70. The business’s 50-day moving average is $8.41 and its two-hundred day moving average is $8.32. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.52 and a quick ratio of 0.23. The firm has a market capitalization of $7.51 billion, a PE ratio of -20.61 and a beta of 1.80.

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

Insider Buying and Selling

In related news, CMO Webb Lauren Stafford sold 135,832 shares of SoFi Technologies stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $7.58, for a total transaction of $1,029,606.56. Following the transaction, the chief marketing officer now directly owns 257,608 shares of the company’s stock, valued at $1,952,668.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CMO Webb Lauren Stafford sold 135,832 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $7.58, for a total transaction of $1,029,606.56. Following the completion of the sale, the chief marketing officer now directly owns 257,608 shares of the company’s stock, valued at approximately $1,952,668.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Noto bought 22,500 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were bought at an average cost of $6.50 per share, for a total transaction of $146,250.00. Following the completion of the transaction, the chief executive officer now directly owns 7,261,789 shares of the company’s stock, valued at $47,201,628.50. The disclosure for this purchase can be found here. Insiders have bought a total of 81,450 shares of company stock valued at $544,586 over the last quarter. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. CNB Bank acquired a new position in SoFi Technologies in the 4th quarter valued at approximately $50,000. OLD Second National Bank of Aurora grew its stake in shares of SoFi Technologies by 21.2% in the 4th quarter. OLD Second National Bank of Aurora now owns 318,367 shares of the company’s stock valued at $3,168,000 after buying an additional 55,607 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of SoFi Technologies during the 4th quarter worth $103,000. KLCM Advisors Inc. bought a new position in SoFi Technologies during the fourth quarter valued at about $244,000. Finally, Prosperity Wealth Management Inc. bought a new stake in shares of SoFi Technologies during the 4th quarter worth about $309,000. Institutional investors and hedge funds own 37.13% of the company’s stock.

About SoFi Technologies

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SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.

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