SoFi Technologies, Inc. (NASDAQ:SOFI) Given Average Recommendation of “Hold” by Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has been assigned a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $14.36.

Several brokerages have recently weighed in on SOFI. JMP Securities began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set a “market outperform” rating and a $17.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. UBS Group raised their price target on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Citizens Jmp began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 price target for the company. Finally, Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now directly owns 226,210 shares of the company’s stock, valued at $2,877,391.20. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,507 shares of company stock valued at $1,283,528. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in SoFi Technologies during the 4th quarter valued at $299,980,000. Geode Capital Management LLC lifted its holdings in shares of SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after buying an additional 315,899 shares in the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $103,678,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company’s stock worth $75,278,000 after buying an additional 159,109 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $13.67 on Tuesday. The business has a 50 day simple moving average of $12.23 and a 200 day simple moving average of $14.03. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same period in the prior year, the business earned $0.02 EPS. SoFi Technologies’s revenue for the quarter was up 32.7% compared to the same quarter last year. Analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

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.