SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Average Recommendation of “Hold” from Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has received an average rating of “Hold” from the thirteen research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $10.50.

A number of analysts have recently weighed in on SOFI shares. Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday. Finally, Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated 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 owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold a total of 25,960,748 shares of company stock valued at $415,523,316 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of SoFi Technologies by 41.5% in the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares during the period. Qsemble Capital Management LP acquired a new position in shares of SoFi Technologies during the third quarter worth about $930,000. Finally, Zacks Investment Management bought a new position in shares of SoFi Technologies during the third quarter worth about $3,766,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $15.57 on Tuesday. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of 155.72, a P/E/G ratio of 2.66 and a beta of 1.77. The firm’s 50-day moving average price is $12.19 and its two-hundred day moving average price is $8.90. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $16.61.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same period in the prior year, the company earned ($0.03) EPS. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts predict that SoFi Technologies will post 0.12 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.