SoFi Technologies (NASDAQ:SOFI) Shares Up 1.2% After Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI) rose 1.2% on Wednesday after Mizuho raised their price target on the stock from $14.00 to $16.00. Mizuho currently has an outperform rating on the stock. SoFi Technologies traded as high as $14.89 and last traded at $14.60. Approximately 16,245,984 shares traded hands during trading, a decline of 66% from the average daily volume of 47,413,004 shares. The stock had previously closed at $14.42.

A number of other equities analysts have also recently weighed in on the company. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.80.

Insider Activity

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’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 transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,697 shares of company stock worth $723,620. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

SoFi Technologies Stock Performance

The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 146.70, a PEG ratio of 2.27 and a beta of 1.60. The firm has a fifty day moving average of $10.13 and a 200-day moving average of $8.10. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million during 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%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current 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.