SoFi Technologies (NASDAQ:SOFI) Coverage Initiated by Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group began coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a report released on Monday. The firm set a “neutral” rating and a $19.00 price target on the stock. The Goldman Sachs Group’s target price indicates a potential downside of 9.35% from the stock’s current price.

A number of other equities research analysts also recently issued reports on SOFI. UBS Group boosted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their price target on SoFi Technologies from $9.00 to $13.00 and gave the company an “underperform” rating in a report on Thursday, July 10th. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price target for the company. Citizens Jmp started coverage on SoFi Technologies in a research report on Friday, April 25th. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, Barclays increased their target price on shares of SoFi Technologies from $12.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.41.

SoFi Technologies Trading Down 1.7%

Shares of NASDAQ:SOFI opened at $20.96 on Monday. The stock’s 50-day simple moving average is $15.48 and its two-hundred day simple moving average is $14.26. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 51.12, a PEG ratio of 3.59 and a beta of 1.91. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $21.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 earnings per share. Analysts expect that SoFi Technologies will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.22, for a total value of $156,263.74. Following the sale, the executive vice president directly owned 255,467 shares of the company’s stock, valued at approximately $3,888,207.74. The trade was a 3.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares of the company’s stock, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,095 shares of company stock worth $3,939,168 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of the business. Berkshire Capital Holdings Inc. lifted its holdings in shares of SoFi Technologies by 6,208,000.0% in 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. CMG Global Holdings LLC increased its position in shares of SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company’s stock valued at $1,728,000 after purchasing an additional 61,443 shares during the last quarter. Geode Capital Management LLC boosted its stake in SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after buying an additional 315,899 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of SoFi Technologies in the first quarter valued at $259,000. Finally, MFG Wealth Management Inc. boosted its stake in shares of SoFi Technologies by 27.7% during the 1st quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company’s stock worth $1,818,000 after purchasing an additional 33,887 shares during the period. Institutional investors own 38.43% of the company’s stock.

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.