SoFi Technologies (NASDAQ:SOFI) Stock Rating Reaffirmed by Needham & Company LLC

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

SOFI has been the topic of a number of other research reports. Jefferies Financial Group reduced their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Mizuho reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Morgan Stanley reiterated an “underweight” rating and issued a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on SoFi Technologies in a research report on Wednesday, January 10th. They set a “hold” rating and a $11.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Up 2.1 %

NASDAQ:SOFI opened at $6.92 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The company has a market cap of $6.76 billion, a PE ratio of -22.32 and a beta of 1.75. SoFi Technologies has a 52-week low of $4.45 and a 52-week high of $11.70. The stock has a 50-day simple moving average of $7.58 and a 200 day simple moving average of $7.87.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly 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. 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 during the quarter, compared to analysts’ expectations of $555.27 million. During the same period last year, the firm posted ($0.05) EPS. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, sell-side analysts expect that SoFi Technologies will post 0.08 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Wedmont Private Capital increased its stake in shares of SoFi Technologies by 13.2% in the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock worth $120,000 after purchasing an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of SoFi Technologies by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company’s stock worth $1,536,000 after purchasing an additional 1,413 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of SoFi Technologies by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after purchasing an additional 1,498 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in SoFi Technologies by 0.4% in the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock worth $3,751,000 after buying an additional 1,508 shares during the period. 38.43% of the stock is currently owned by hedge funds and other 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.