SoFi Technologies (NASDAQ:SOFI) Given New $6.00 Price Target at Mizuho

SoFi Technologies (NASDAQ:SOFIGet Rating) had its price target lowered by Mizuho from $7.00 to $6.00 in a research report sent to investors on Wednesday morning, The Fly reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently commented on SOFI. Credit Suisse Group increased 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. Morgan Stanley reduced their target price on SoFi Technologies from $7.50 to $7.00 and set an equal weight rating for the company in a research note on Wednesday, November 2nd. Bank of America upgraded SoFi Technologies from a neutral rating to a buy rating and increased their target price for the company from $8.00 to $9.00 in a research note on Wednesday, September 14th. Seaport Res Ptn restated a neutral rating on shares of SoFi Technologies in a research note on Friday, September 9th. Finally, The Goldman Sachs Group reduced their price objective 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. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $10.85.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $4.66 on Wednesday. The stock has a market cap of $4.32 billion, a P/E ratio of -9.32 and a beta of 1.57. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $5.33 and a 200-day moving average of $6.06. SoFi Technologies has a 52 week low of $4.53 and a 52 week high of $18.69.

Institutional Investors Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC bought a new stake in SoFi Technologies in the third quarter valued at $116,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of SoFi Technologies by 136.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 143,515 shares of the company’s stock valued at $701,000 after purchasing an additional 82,859 shares during the period. M&T Bank Corp increased its holdings in shares of SoFi Technologies by 24.7% during the third quarter. M&T Bank Corp now owns 22,028 shares of the company’s stock valued at $108,000 after purchasing an additional 4,359 shares during the period. Alpha Square Group S LLC acquired a new position in shares of SoFi Technologies during the third quarter valued at $1,082,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of SoFi Technologies by 4.4% during the third quarter. CIBC Private Wealth Group LLC now owns 100,816 shares of the company’s stock valued at $492,000 after purchasing an additional 4,233 shares during the period. 38.19% of the stock is currently owned by institutional investors.

About SoFi Technologies

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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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