Needham & Company LLC Boosts SoFi Technologies (NASDAQ:SOFI) Price Target to $13.00

SoFi Technologies (NASDAQ:SOFI) had its price target upped by Needham & Company LLC from $10.00 to $13.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

SOFI has been the topic of several other reports. Keefe, Bruyette & Woods decreased their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Jefferies Financial Group upped their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Barclays decreased their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $11.04 on Wednesday. The firm has a market capitalization of $11.77 billion, a PE ratio of 110.41, a price-to-earnings-growth ratio of 1.88 and a beta of 1.60. The firm has a fifty day simple moving average of $8.67 and a two-hundred day simple moving average of $7.56. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $11.50.

SoFi Technologies (NASDAQ:SOFI) last issued 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 for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. Analysts forecast that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction dated Thursday, August 22nd. The stock was 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 of the company’s stock, valued at $830,594.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on 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 in the company, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Diversified Trust Co raised its stake in SoFi Technologies by 37.3% in the first quarter. Diversified Trust Co now owns 25,332 shares of the company’s stock valued at $185,000 after buying an additional 6,880 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after buying an additional 6,870,610 shares during the last quarter. Kovack Advisors Inc. boosted its stake in SoFi Technologies by 6.4% during the first quarter. Kovack Advisors Inc. now owns 125,315 shares of the company’s stock worth $915,000 after buying an additional 7,502 shares during the last quarter. Marshall Financial Group LLC purchased a new stake in SoFi Technologies in the first quarter valued at $89,000. Finally, Kesler Norman & Wride LLC purchased a new stake in SoFi Technologies in the first quarter valued at $80,000. Institutional investors own 38.43% of the company’s stock.

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.