Analysts Set SoFi Technologies, Inc. (NASDAQ:SOFI) Price Target at $9.32

SoFi Technologies, Inc. (NASDAQ:SOFI) has received an average recommendation of “Hold” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.40.

A number of equities analysts recently issued reports on SOFI shares. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays increased their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock valued at $904,677 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its position in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after buying an additional 855 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the period. Oak Harbor Wealth Partners LLC increased its stake in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after acquiring an additional 1,054 shares during the period. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

SOFI stock opened at $13.63 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49. The firm has a 50 day moving average price of $9.70 and a 200-day moving average price of $7.95. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $14.44. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 136.31, a PEG ratio of 2.27 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last announced 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 return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts forecast that SoFi Technologies will post 0.12 EPS for the current fiscal year.

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.