SoFi Technologies (NASDAQ:SOFI) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $14.00 price objective on the stock.

Several other research analysts have also commented on SOFI. Citizens Jmp assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price objective on the stock. JMP Securities assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price objective on the stock. UBS Group raised their price objective on SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, Barclays raised their price objective on SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $14.36.

SoFi Technologies Trading Up 2.8%

Shares of SOFI opened at $13.67 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $15.11 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. The stock’s fifty day simple moving average is $12.23 and its 200 day simple moving average is $14.03. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $739.93 million. During the same period last year, the company posted $0.02 EPS. The business’s quarterly revenue was up 32.7% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at approximately $2,877,391.20. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,507 shares of company stock worth $1,283,528 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the fourth quarter worth about $27,000. Hazlett Burt & Watson Inc. grew its stake in SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new position in SoFi Technologies in the first quarter worth about $28,000. SVB Wealth LLC acquired a new position in SoFi Technologies in the first quarter worth about $28,000. Finally, Hollencrest Capital Management acquired a new position in SoFi Technologies in the fourth quarter worth about $31,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.