Citigroup Forecasts Strong Price Appreciation for SoFi Technologies (NASDAQ:SOFI) Stock

SoFi Technologies (NASDAQ:SOFI) had its price target lifted by Citigroup from $12.50 to $18.00 in a report issued on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the company. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays increased their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho boosted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price objective 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. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.71.

SoFi Technologies Stock Up 5.1 %

Shares of NASDAQ:SOFI opened at $16.30 on Tuesday. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $17.19. The company has a market capitalization of $17.69 billion, a PE ratio of 163.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The business has a fifty day moving average price of $15.16 and a two-hundred day moving average price of $10.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

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

Insider Buying and Selling

In other SoFi Technologies news, EVP Eric Schuppenhauer purchased 30,600 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock worth $416,889,795 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $28,000. FNY Investment Advisers LLC boosted its stake in 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 buying an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC bought a new position in SoFi Technologies during the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies during the third quarter valued at approximately $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.