SoFi Technologies (NASDAQ:SOFI) Now Covered by Analysts at TD Cowen

TD Cowen assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research note published on Friday, Marketbeat.com reports. The firm issued a hold rating and a $21.00 price target on the stock.

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods boosted their price target on SoFi Technologies from $9.00 to $13.00 and gave the company an “underperform” rating in a report on Thursday. Barclays upped their price objective on SoFi Technologies from $12.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Stephens began coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an “overweight” rating and a $20.00 price objective for the company. Truist Financial began coverage on SoFi Technologies in a research note on Monday, June 2nd. They issued a “hold” rating and a $14.00 price objective for the company. Finally, UBS Group upped their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $15.81.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $21.20 on Friday. The stock has a 50-day simple moving average of $15.15 and a two-hundred day simple moving average of $14.20. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $21.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The firm has a market capitalization of $23.43 billion, a PE ratio of 51.71, a P/E/G ratio of 3.53 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. SoFi Technologies’s revenue for the quarter was up 32.7% on a year-over-year basis. Analysts forecast that SoFi Technologies will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 11,520 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the transaction, the executive vice president directly owned 203,509 shares of the company’s stock, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares of the company’s stock, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,095 shares of company stock valued at $3,939,168. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SOFI. Two Sigma Advisers LP purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $299,980,000. Vanguard Group Inc. raised its position in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares during the period. Norges Bank purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $103,678,000. Voloridge Investment Management LLC purchased a new stake in SoFi Technologies during the fourth quarter valued at approximately $75,139,000. Finally, Nuveen LLC purchased a new stake in SoFi Technologies during the first quarter valued at approximately $47,616,000. 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.