SoFi Technologies (NASDAQ:SOFI) Sets New 12-Month High on Analyst Upgrade

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) reached a new 52-week high 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 $14.65, with a volume of 6215735 shares traded. The stock had previously closed at $14.42.

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

Insider Activity

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies 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 completion of the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade 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. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the 3rd quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC grew its stake in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies during the 3rd quarter valued at approximately $39,000. Finally, GAMMA Investing LLC boosted its stake in SoFi Technologies by 65.3% in the 2nd 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 period. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Up 1.7 %

The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $15.92 billion, a P/E ratio of 146.70, a P/E/G ratio of 2.27 and a beta of 1.60. The company has a 50 day simple moving average of $10.13 and a two-hundred day simple moving average of $8.10.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the company posted ($0.03) EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.12 EPS 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.