Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) Target Price at $12.50

SoFi Technologies, Inc. (NASDAQ:SOFI) has been assigned an average rating of “Hold” from the sixteen brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $12.50.

Several brokerages have recently issued reports on SOFI. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Citigroup boosted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th.

SoFi Technologies Price Performance

SOFI opened at $10.66 on Monday. The stock’s 50-day moving average price is $12.76 and its 200 day moving average price is $13.44. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $18.42. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.24 and a beta of 1.86. 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 (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the firm earned $0.04 EPS. As a group, sell-side analysts expect that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares of the company’s stock, valued at $2,877,391.20. The trade was a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,905 shares of company stock worth $1,308,075. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds have recently made changes to their positions in the business. Berkshire Capital Holdings Inc. raised its stake in SoFi Technologies by 6,208,000.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock valued at $9,560,000 after acquiring an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $3,703,000. Hanseatic Management Services Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $1,116,000. Kercheville Advisors LLC purchased a new position in SoFi Technologies in the 4th quarter valued at $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. increased its stake in SoFi Technologies by 12.9% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company’s stock valued at $9,131,000 after buying an additional 67,779 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.