SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $9.00

SoFi Technologies (NASDAQ:SOFI) had its price objective raised by Barclays from $8.00 to $9.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also recently issued reports on SOFI. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods cut their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.32.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $11.04 on Wednesday. The business’s 50 day moving average price is $8.67 and its 200 day moving average price is $7.56. The company has a market cap of $11.77 billion, a price-to-earnings ratio of 110.41, a PEG ratio of 1.88 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. SoFi Technologies has a one year low of $6.01 and a one year high of $11.50.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results 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 net margin of 8.38% and a return on equity of 3.79%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. SoFi Technologies’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, research analysts predict that SoFi Technologies will post 0.12 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies during the 3rd quarter worth approximately $27,000. ORG Partners LLC purchased a new position in SoFi Technologies in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC increased its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new position in SoFi Technologies in the 3rd quarter valued at $39,000. Finally, GAMMA Investing LLC raised its position in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Hedge funds and other 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.