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

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been given an average rating of “Hold” by the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $9.14.

A number of analysts recently weighed in on the company. BTIG Research initiated coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods lowered their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Finally, Barclays lowered their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new stake in SoFi Technologies in the 4th quarter worth approximately $38,595,000. Janney Montgomery Scott LLC increased its position in SoFi Technologies by 32.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 113,040 shares of the company’s stock valued at $1,125,000 after acquiring an additional 27,750 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of SoFi Technologies by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after purchasing an additional 493,707 shares during the period. Corient Private Wealth LLC lifted its stake in shares of SoFi Technologies by 3.8% in the 4th quarter. Corient Private Wealth LLC now owns 70,321 shares of the company’s stock worth $700,000 after purchasing an additional 2,588 shares during the period. Finally, Quest Partners LLC bought a new stake in SoFi Technologies during the fourth quarter valued at approximately $146,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $7.79 on Thursday. SoFi Technologies has a one year low of $6.01 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of -25.13, a PEG ratio of 1.60 and a beta of 1.70. The company’s fifty day moving average price is $7.39 and its 200-day moving average price is $7.17.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same quarter last year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities research analysts anticipate that SoFi Technologies will post 0.1 earnings per share 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.