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

Stephens initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a report issued on Thursday, MarketBeat Ratings reports. The firm issued an overweight rating and a $20.00 price target on the stock.

A number of other equities analysts also recently commented on SOFI. Barclays upped their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Truist Financial began coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They issued a “hold” rating and a $14.00 target price on the stock. UBS Group upped their target price 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 initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.73.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $14.90 on Thursday. 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 company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 2.24 and a beta of 1.82. The firm’s 50-day moving average is $12.70 and its 200 day moving average is $14.00. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $18.42.

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

Insider Activity at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director now owns 289,258 shares of the company’s stock, valued at $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 11,520 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president now directly owns 203,509 shares of the company’s stock, valued at $2,722,950.42. The trade was a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,787 shares of company stock valued at $3,753,076 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies during the 4th quarter valued at approximately $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies during the 4th quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies during the 4th quarter valued at approximately $32,000. Hazlett Burt & Watson Inc. increased its stake in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in SoFi Technologies during the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.