JMP Securities Reiterates Market Perform Rating for SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “market perform” rating reiterated by research analysts at JMP Securities in a research note issued on Monday,Benzinga reports. They currently have a $17.00 target price on the stock. JMP Securities’ price objective would indicate a potential downside of 18.89% from the company’s current price.

Several other equities research analysts have also issued reports on SOFI. The Goldman Sachs Group assumed coverage on shares of SoFi Technologies in a report on Monday. They set a “neutral” rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on SoFi Technologies from $9.00 to $13.00 and gave the stock an “underperform” rating in a report on Thursday, July 10th. UBS Group upped their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Finally, Barclays upped their price objective on shares of SoFi Technologies from $12.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.41.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $20.96 on Monday. The firm has a market cap of $23.17 billion, a P/E ratio of 51.12, a price-to-earnings-growth ratio of 3.59 and a beta of 1.91. The business’s 50 day moving average is $15.48 and its 200-day moving average is $14.26. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $21.86.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same quarter last year, the company earned $0.02 EPS. The company’s revenue was up 32.7% on a year-over-year basis. Equities research analysts predict that SoFi Technologies will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer owned 724,321 shares of the company’s stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Magdalena Yesil sold 87,140 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director owned 289,258 shares of the company’s stock, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,095 shares of company stock worth $3,939,168. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently bought and sold shares of SOFI. Well Done LLC lifted its holdings in shares of SoFi Technologies by 13.3% in the 2nd quarter. Well Done LLC now owns 253,700 shares of the company’s stock valued at $4,620,000 after acquiring an additional 29,700 shares during the last quarter. TD Private Client Wealth LLC increased its position in SoFi Technologies by 153.9% during the second quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company’s stock valued at $47,000 after acquiring an additional 1,553 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of SoFi Technologies by 0.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 330,122 shares of the company’s stock worth $6,012,000 after purchasing an additional 1,193 shares during the period. AdvisorNet Financial Inc raised its position in SoFi Technologies by 31.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 7,165 shares of the company’s stock worth $130,000 after purchasing an additional 1,709 shares during the period. Finally, Park Avenue Securities LLC grew its stake in shares of SoFi Technologies by 34.5% during the second quarter. Park Avenue Securities LLC now owns 18,992 shares of the company’s stock valued at $346,000 after buying an additional 4,870 shares during the last quarter. 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.