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

SoFi Technologies (NASDAQ:SOFI) had its target price upped by Barclays from $8.00 to $9.00 in a report released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC raised their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $9.32.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $11.04 on Wednesday. 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 firm’s 50 day moving average price is $8.67 and its 200-day moving average price is $7.56. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $11.50. The company has a market cap of $11.77 billion, a PE ratio of 110.41, a P/E/G ratio of 1.89 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. Sell-side 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 9,308 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s 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 owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,636 shares of company stock valued at $904,677. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new position in shares of SoFi Technologies during the first quarter worth $27,000. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the third quarter worth $27,000. Allspring Global Investments Holdings LLC raised its holdings in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the third quarter valued at $39,000. Hedge funds and other institutional investors 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.