Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) Price Target at $11.13

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned a consensus recommendation of “Reduce” from the thirteen analysts that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.13.

Several research firms have recently commented on SOFI. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Needham & Company LLC upped their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

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

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $14.55 on Friday. The firm has a market cap of $15.79 billion, a P/E ratio of 145.51, a P/E/G ratio of 2.70 and a beta of 1.78. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $17.19. The business’s 50-day moving average price is $14.83 and its 200 day moving average price is $10.24. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results 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 for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities research analysts expect that SoFi Technologies will post 0.12 earnings per share for the current 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.