SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $16.00

SoFi Technologies (NASDAQ:SOFI) had its target price upped by research analysts at Mizuho from $14.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 14.86% from the company’s current price.

Other analysts have also issued reports about the stock. Jefferies Financial Group upped their price target 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. Barclays boosted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.80.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $13.93 on Tuesday. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $14.44. The company has a market capitalization of $15.12 billion, a price-to-earnings ratio of 139.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm’s fifty day moving average price is $9.84 and its 200 day moving average price is $8.00.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The company’s revenue was up 29.8% on a year-over-year basis. On average, research analysts forecast that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the transaction, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred 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 owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $28,000. Allspring Global Investments Holdings LLC increased its holdings 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 worth $29,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC increased its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in SoFi Technologies in the 3rd quarter worth about $39,000. Institutional investors and hedge funds 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.