SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $13.00

SoFi Technologies (NASDAQ:SOFI) had its target price hoisted by Jefferies Financial Group from $12.00 to $13.00 in a report issued on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other research analysts have also commented on SOFI. Barclays reduced their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods decreased their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Finally, Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.32.

SoFi Technologies Stock Performance

Shares of SOFI opened at $11.04 on Tuesday. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $11.50. The stock’s 50-day simple moving average is $8.67 and its 200 day simple moving average is $7.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 110.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. Research analysts forecast that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of SoFi Technologies

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