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

SoFi Technologies, Inc. (NASDAQ:SOFI) has been given a consensus recommendation of “Hold” by the nineteen analysts that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.08.

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

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $6.92 on Monday. SoFi Technologies has a twelve month low of $4.45 and a twelve month high of $11.70. The company has a market cap of $6.76 billion, a PE ratio of -22.32 and a beta of 1.75. The business’s 50 day moving average price is $7.58 and its two-hundred day moving average price is $7.87. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping 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 business had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period in the previous year, the firm earned ($0.05) EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. On average, analysts predict that SoFi Technologies will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction 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 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 is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $71,349,000. Charles Schwab Investment Management Inc. grew its holdings in shares of SoFi Technologies by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock worth $54,659,000 after purchasing an additional 199,949 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of SoFi Technologies by 15.4% in the third quarter. Northern Trust Corp now owns 4,371,786 shares of the company’s stock valued at $34,931,000 after buying an additional 584,335 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies

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.