SoFi Technologies (NASDAQ:SOFI) Rating Reiterated by Needham & Company LLC

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 55.52% from the company’s current price.

A number of other research analysts have also weighed in on the stock. BTIG Research began coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Jefferies Financial Group dropped their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Wedbush reaffirmed an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.32.

SoFi Technologies Stock Down 2.7 %

Shares of NASDAQ SOFI opened at $6.43 on Tuesday. The firm has a market cap of $6.80 billion, a PE ratio of -20.74, a P/E/G ratio of 1.53 and a beta of 1.70. SoFi Technologies has a 12-month low of $6.20 and a 12-month high of $11.70. The company’s fifty day simple moving average is $6.92 and its 200 day simple moving average is $7.67. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts forecast that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of SoFi Technologies stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the purchase, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of SoFi Technologies stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the purchase, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders acquired 88,390 shares of company stock worth $597,569 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in SOFI. Norges Bank purchased a new stake in SoFi Technologies during the 4th quarter valued at $71,349,000. Nikko Asset Management Americas Inc. raised its holdings in SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after purchasing an additional 6,870,610 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Vanguard Group Inc. raised its holdings in SoFi Technologies by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after purchasing an additional 5,057,233 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in SoFi Technologies in the 4th quarter worth $38,595,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.