Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) Target Price at $11.13

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned an average recommendation of “Reduce” from the thirteen research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $11.13.

A number of equities analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th.

Insider Buying and Selling

In related news, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares of the company’s stock, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC raised its stake in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $47,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $14.15 on Friday. The stock has a market cap of $15.35 billion, a P/E ratio of 141.51, a PEG ratio of 2.70 and a beta of 1.78. The stock has a 50 day simple moving average of $14.96 and a 200 day simple moving average of $10.33. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the company earned ($0.03) EPS. The company’s revenue was up 29.8% on a year-over-year basis. Research analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current year.

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.