SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $20.00

SoFi Technologies (NASDAQ:SOFI) had its price target raised by Needham & Company LLC from $13.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on SOFI. Citigroup raised their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group boosted their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Performance

Shares of SOFI opened at $16.44 on Tuesday. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $18.42. The stock has a market capitalization of $17.84 billion, a PE ratio of 164.42, a PEG ratio of 1.19 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a 50-day simple moving average of $15.84 and a 200-day simple moving average of $11.28.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. During the same quarter in the previous year, the firm posted $0.04 earnings per share. On average, analysts predict that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now directly owns 482,083 shares in the company, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock worth $416,950,073 in the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC lifted its position in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $28,000. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the third quarter valued at approximately $39,000. Finally, AdvisorNet Financial Inc grew its holdings in SoFi Technologies by 63.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after acquiring an additional 2,130 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.