SoFi Technologies, Inc. (NASDAQ:SOFI) Given Consensus Recommendation of “Hold” by Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned an average recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.32.

SOFI has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the third quarter worth about $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies in the third quarter worth about $28,000. Allspring Global Investments Holdings LLC raised its position in SoFi Technologies by 55.3% in the second 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. GAMMA Investing LLC raised its position in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares in the last quarter. Finally, Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the third quarter worth about $39,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $13.40 on Friday. The stock has a market cap of $14.28 billion, a price-to-earnings ratio of 134.01, a PEG ratio of 2.30 and a beta of 1.60. The business’s fifty day moving average is $9.57 and its 200 day moving average is $7.89. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $14.44. The company has a quick ratio of 0.21, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. Research analysts expect that SoFi Technologies will post 0.12 EPS for the current fiscal year.

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.