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

SoFi Technologies (NASDAQ:SOFI) had its price objective raised by Morgan Stanley from $7.50 to $13.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other research firms also recently weighed in on SOFI. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays upped 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. JPMorgan Chase & Co. upped their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.04.

SoFi Technologies Trading Up 2.1 %

NASDAQ:SOFI opened at $15.35 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a 50-day moving average of $13.55 and a 200-day moving average of $9.43. The company has a market cap of $16.66 billion, a PE ratio of 153.52, a PEG ratio of 2.65 and a beta of 1.77. SoFi Technologies has a one year low of $6.01 and a one year high of $17.19.

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

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was 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 directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,009,658 shares of company stock worth $416,825,197. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors grew its stake in shares of SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares during the period. Summit Trail Advisors LLC raised its position in SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares during the period. CIBC Asset Management Inc increased its position in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after acquiring an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its holdings in shares of SoFi Technologies by 10.0% in the third 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 during the period. Finally, Stratos Wealth Advisors LLC boosted its stake in shares of 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 purchasing an additional 1,054 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.