SoFi Technologies (NASDAQ:SOFI) Given “Underperform” Rating at Keefe, Bruyette & Woods

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “underperform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research report issued on Thursday, MarketBeat.com reports. They presently have a $8.00 price target on the stock, up from their previous price target of $7.00. Keefe, Bruyette & Woods’ price target points to a potential downside of 48.05% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Jefferies Financial Group increased their price target 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, Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.13.

SoFi Technologies Stock Down 1.5 %

SoFi Technologies stock opened at $15.40 on Thursday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $16.71 billion, a P/E ratio of 154.02, a P/E/G ratio of 2.70 and a beta of 1.77. The business has a fifty day moving average of $14.45 and a two-hundred day moving average of $9.95. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $17.19.

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

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the transaction, the executive vice president now owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This trade represents a 4.53 % 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, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,009,264 shares of company stock worth $416,889,795. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SOFI. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies during the third quarter worth $28,000. Allspring Global Investments Holdings LLC grew its position in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the third quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies in the third quarter valued at $47,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.