SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus Rating of “Hold” from Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $10.50.

Several research analysts have weighed in on the company. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Mizuho boosted their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th.

SoFi Technologies Trading Up 3.9 %

Shares of SOFI opened at $16.88 on Tuesday. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $17.04. 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 simple moving average of $13.00 and a 200-day simple moving average of $9.22. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 168.80, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping 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 firm had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter last year, the business posted ($0.03) EPS. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts forecast that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares in the company, valued at $415,510.74. This represents a 66.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,012,748 shares of company stock worth $416,356,356. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new position in SoFi Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies during the third quarter valued at $28,000. Allspring Global Investments Holdings LLC lifted its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, GAMMA Investing LLC increased its holdings in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.