SoFi Technologies (NASDAQ:SOFI) Receives “Outperform” Rating from William Blair

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “outperform” rating restated by equities research analysts at William Blair in a research report issued to clients and investors on Friday,RTT News reports.

Several other research analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 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 report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Finally, Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Stock Performance

Shares of SOFI stock traded up $0.06 during midday trading on Friday, hitting $18.09. The company had a trading volume of 15,900,419 shares, compared to its average volume of 41,081,289. 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 stock has a market cap of $19.63 billion, a price-to-earnings ratio of 180.85, a PEG ratio of 1.19 and a beta of 1.78. The company’s 50 day simple moving average is $15.62 and its 200 day simple moving average is $10.94. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same period last year, the firm earned ($0.03) EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. Research analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Eric Schuppenhauer purchased 30,600 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently modified their holdings of SOFI. Hanseatic Management Services Inc. purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $1,116,000. Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares in the last quarter. Zacks Investment Management bought a new stake in shares of SoFi Technologies in the third quarter worth $3,766,000. Citizens Financial Group Inc. RI raised its holdings in SoFi Technologies by 41.5% in the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after acquiring an additional 70,603 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the last quarter. 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.