SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $11.69.

Several brokerages have recently commented on SOFI. Seaport Res Ptn restated a “neutral” rating on shares of SoFi Technologies in a research report on Friday, September 9th. Bank of America raised SoFi Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, September 14th. Bank Of America (Bofa) raised SoFi Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $8.00 to $9.00 in a research note on Wednesday, September 14th. The Goldman Sachs Group cut their target price on SoFi Technologies from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 2nd. Finally, Credit Suisse Group upped their target price on SoFi Technologies from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd.

SoFi Technologies Stock Down 3.7 %

Shares of NASDAQ:SOFI opened at $5.18 on Monday. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -10.36 and a beta of 1.57. The stock has a fifty day simple moving average of $5.38 and a two-hundred day simple moving average of $6.09. SoFi Technologies has a 12-month low of $4.77 and a 12-month high of $21.10. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.88.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the company. Riverwood Capital Management Ltd. acquired a new position in shares of SoFi Technologies during the first quarter worth about $207,873,000. State Street Corp lifted its stake in shares of SoFi Technologies by 76.6% during the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock valued at $61,590,000 after buying an additional 5,068,034 shares during the period. Vanguard Group Inc. lifted its stake in shares of SoFi Technologies by 7.8% during the third quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock valued at $326,027,000 after buying an additional 4,846,633 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of SoFi Technologies by 35,197.2% during the third quarter. Point72 Asset Management L.P. now owns 3,509,722 shares of the company’s stock valued at $17,127,000 after buying an additional 3,519,722 shares during the period. Finally, Banco BTG Pactual S.A. purchased a new position in SoFi Technologies during the first quarter worth approximately $18,467,000. 38.19% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

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