SoFi Technologies (NASDAQ:SOFI) Trading Up 3.9% – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s share price traded up 3.9% during trading on Wednesday . The company traded as high as $12.41 and last traded at $12.42. 8,722,247 shares were traded during trading, a decline of 80% from the average session volume of 44,455,528 shares. The stock had previously closed at $11.95.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Citigroup raised their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

The company has a fifty day moving average of $14.70 and a two-hundred day moving average of $12.94. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. 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 return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the business posted $0.04 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 27,013 shares of company stock worth $437,402 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies during the fourth quarter worth $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies in the third quarter valued at about $28,000. Hollencrest Capital Management bought a new position in SoFi Technologies in the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies during the fourth quarter worth about $32,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares during 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.