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

SoFi Technologies (NASDAQ:SOFI) had its price objective increased by analysts at Needham & Company LLC from $10.00 to $13.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 24.16% from the company’s current price.

Several other research analysts have also recently issued reports on SOFI. Barclays dropped their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.58.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $10.47 on Wednesday. The stock has a market capitalization of $11.07 billion, a P/E ratio of -33.77, a P/E/G ratio of 2.08 and a beta of 1.70. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $11.34. The business’s fifty day moving average is $8.45 and its two-hundred day moving average is $7.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88.

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

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock worth $904,677 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its holdings in shares of SoFi Technologies by 26.1% during the third quarter. Janney Montgomery Scott LLC now owns 135,063 shares of the company’s stock worth $1,062,000 after purchasing an additional 27,958 shares during the last quarter. Symmetry Partners LLC bought a new stake in shares of SoFi Technologies during the third quarter worth $411,000. Gladstone Institutional Advisory LLC grew its holdings in shares of SoFi Technologies by 161.2% during the third quarter. Gladstone Institutional Advisory LLC now owns 60,110 shares of the company’s stock worth $472,000 after purchasing an additional 37,100 shares during the last quarter. Cigna Investments Inc. New bought a new stake in shares of SoFi Technologies during the third quarter worth $83,000. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of SoFi Technologies by 11.4% during the third quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock worth $95,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors 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.