Deutsche Bank Aktiengesellschaft Trims SoFi Technologies (NASDAQ:SOFI) Target Price to $11.00

SoFi Technologies (NASDAQ:SOFI) had its target price cut by Deutsche Bank Aktiengesellschaft from $12.00 to $11.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also weighed in on SOFI. Needham & Company LLC reaffirmed a buy rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday. Mizuho dropped their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a buy rating on the stock in a research note on Thursday, January 18th. Wedbush reissued an underperform rating and set a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an underperform rating to a market perform rating and boosted their price objective for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a neutral rating in a research note on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $9.08.

SoFi Technologies Trading Down 0.4 %

Shares of SOFI opened at $6.96 on Tuesday. The firm’s 50-day moving average price is $7.53 and its 200-day moving average price is $7.86. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of -22.45 and a beta of 1.75. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. SoFi Technologies has a 1-year low of $4.45 and a 1-year high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. Sell-side analysts anticipate 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 business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clarity Capital Partners LLC increased its holdings in SoFi Technologies by 14.0% during the first quarter. Clarity Capital Partners LLC now owns 386,318 shares of the company’s stock valued at $2,820,000 after buying an additional 47,324 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its holdings in SoFi Technologies by 28.9% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 13,335 shares of the company’s stock worth $97,000 after buying an additional 2,989 shares during the period. GSA Capital Partners LLP boosted its holdings in SoFi Technologies by 43.6% in the 1st quarter. GSA Capital Partners LLP now owns 67,562 shares of the company’s stock worth $493,000 after buying an additional 20,513 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after buying an additional 6,870,610 shares during the period. Finally, Pegasus Asset Management Inc. boosted its holdings in SoFi Technologies by 3.7% in the 1st quarter. Pegasus Asset Management Inc. now owns 101,985 shares of the company’s stock worth $744,000 after buying an additional 3,656 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

About SoFi Technologies

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.