SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Average Rating of “Hold” from Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been given an average recommendation of “Hold” by the nineteen brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.08.

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC started coverage on shares of SoFi Technologies in a research note on Wednesday, April 3rd. They set a “buy” rating and a $10.00 target price on the stock. Mizuho reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Citigroup initiated coverage on SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 target price for the company. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Finally, Wedbush reiterated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th.

SoFi Technologies Price Performance

SOFI opened at $7.87 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The stock has a market capitalization of $7.69 billion, a PE ratio of -20.71 and a beta of 1.75. The stock’s 50 day moving average price is $7.64 and its 200-day moving average price is $7.89. SoFi Technologies has a 52-week low of $4.45 and a 52-week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business had revenue of $615.40 million for the quarter, compared to the consensus estimate of $572.02 million. During the same period in the previous year, the firm earned ($0.05) EPS. The company’s quarterly revenue was up 34.7% compared to the same quarter last year. On average, equities research analysts predict that SoFi Technologies will post 0.08 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Trueblood Wealth Management LLC grew its holdings in shares of SoFi Technologies by 41.0% in the first quarter. Trueblood Wealth Management LLC now owns 22,103 shares of the company’s stock worth $161,000 after acquiring an additional 6,426 shares during the period. McGuire Investment Group LLC lifted its position in shares of SoFi Technologies by 10.2% during the 1st quarter. McGuire Investment Group LLC now owns 39,950 shares of the company’s stock valued at $292,000 after buying an additional 3,700 shares in the last quarter. UMB Bank n.a. grew its stake in shares of SoFi Technologies by 36.1% during the 1st quarter. UMB Bank n.a. now owns 31,237 shares of the company’s stock valued at $228,000 after acquiring an additional 8,278 shares during the period. Gainplan LLC purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $77,000. Finally, Triumph Capital Management raised its stake in SoFi Technologies by 24.9% during the 1st quarter. Triumph Capital Management now owns 362,385 shares of the company’s stock worth $2,616,000 after acquiring an additional 72,142 shares during the period. Institutional investors own 38.43% of the company’s stock.

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.