The Goldman Sachs Group Initiates Coverage on SoFi Technologies (NASDAQ:SOFI)

Equities researchers at The Goldman Sachs Group assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research note issued to investors on Monday. The firm set a “neutral” rating and a $19.00 price target on the stock. The Goldman Sachs Group’s price target points to a potential downside of 9.35% from the stock’s current price.

A number of other research analysts have also weighed in on the company. UBS Group lifted their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Barclays boosted their price objective on SoFi Technologies from $12.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their price target on SoFi Technologies from $9.00 to $13.00 and gave the stock an “underperform” rating in a research note on Thursday, July 10th. Truist Financial initiated coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They set a “hold” rating and a $14.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.41.

SoFi Technologies Stock Down 1.7%

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

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate 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 17.21% and a return on equity of 3.34%. The company’s revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, equities research analysts anticipate that SoFi Technologies will post 0.26 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction that occurred 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 sale, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,095 shares of company stock worth $3,939,168 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at $27,000. Hazlett Burt & Watson Inc. lifted 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 acquiring an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter valued at about $28,000. SVB Wealth LLC bought a new stake in shares of SoFi Technologies in the first quarter worth approximately $28,000. Finally, Garde Capital Inc. purchased a new position in shares of SoFi Technologies during the first quarter valued at approximately $31,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

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.