Barclays Increases SoFi Technologies (NASDAQ:SOFI) Price Target to $21.00

SoFi Technologies (NASDAQ:SOFI) had its price target lifted by equities research analysts at Barclays from $18.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 7.00% from the company’s current price.

A number of other brokerages have also recently issued reports on SOFI. The Goldman Sachs Group started coverage on SoFi Technologies in a research note on Monday, July 14th. They issued a “neutral” rating and a $19.00 price objective on the stock. JMP Securities restated a “market perform” rating and issued a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. TD Cowen started coverage on SoFi Technologies in a report on Friday, July 11th. They set a “hold” rating and a $21.00 target price for the company. Needham & Company LLC lifted their target price on SoFi Technologies from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday. Finally, 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. Three investment 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.91.

SoFi Technologies Trading Up 3.2%

Shares of SoFi Technologies stock opened at $22.58 on Wednesday. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $25.11. The stock’s 50-day simple moving average is $17.43 and its 200 day simple moving average is $14.82. The stock has a market capitalization of $24.96 billion, a P/E ratio of 47.04, a P/E/G ratio of 2.57 and a beta of 1.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The business had revenue of $519.37 million for the quarter, compared to analysts’ expectations of $801.94 million. During the same period in the previous year, the business posted $0.01 EPS. The firm’s quarterly revenue was up 42.8% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,181 shares of company stock valued at $4,043,240. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies in the 4th quarter worth approximately $32,000. Hazlett Burt & Watson Inc. lifted its position in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after buying an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. Finally, TD Private Client Wealth LLC lifted its position in SoFi Technologies by 153.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company’s stock worth $47,000 after buying an additional 1,553 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.