SoFi Technologies, Inc. (NASDAQ:SOFI) Receives $9.14 Consensus Price Target from Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned an average rating of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $9.14.

Several analysts have recently weighed in on SOFI shares. Barclays reduced their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. BTIG Research initiated coverage on shares of SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th.

SoFi Technologies Trading Down 3.4 %

Shares of SoFi Technologies stock opened at $7.01 on Friday. The firm has a market capitalization of $7.41 billion, a PE ratio of -22.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $7.11 and its 200 day moving average is $7.20. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts forecast that SoFi Technologies will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders sold 19,921,285 shares of company stock valued at $135,057,462 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in SoFi Technologies during the 4th quarter valued at $27,000. Kestra Private Wealth Services LLC raised its holdings in shares of SoFi Technologies by 4.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 45,963 shares of the company’s stock worth $457,000 after acquiring an additional 1,974 shares during the last quarter. Victory Capital Management Inc. lifted its position in SoFi Technologies by 24.4% in the 4th quarter. Victory Capital Management Inc. now owns 119,488 shares of the company’s stock valued at $1,189,000 after acquiring an additional 23,436 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new position in SoFi Technologies during the 4th quarter valued at about $580,000. Finally, M&T Bank Corp increased its holdings in SoFi Technologies by 56.3% during the 4th quarter. M&T Bank Corp now owns 44,260 shares of the company’s stock worth $440,000 after purchasing an additional 15,946 shares in the last quarter. Institutional investors 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.