Mizuho Increases SoFi Technologies (NASDAQ:SOFI) Price Target to $16.00

SoFi Technologies (NASDAQ:SOFI) had its target price boosted by equities researchers at Mizuho from $14.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 9.07% from the company’s previous close.

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

SoFi Technologies Trading Up 1.7 %

Shares of SoFi Technologies stock opened at $14.67 on Tuesday. The stock has a market capitalization of $15.92 billion, a P/E ratio of 146.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $8.10. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $14.89.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data 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 net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue was up 29.8% on a year-over-year basis. Research analysts expect that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,697 shares of company stock valued at $723,620 over the last quarter. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC grew its position in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in SoFi Technologies in the third quarter worth $39,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.