SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus Rating of “Hold” from Brokerages

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been given a consensus rating of “Hold” by the twelve analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $9.32.

SOFI has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $13.40 on Friday. The stock’s 50-day moving average price is $9.57 and its two-hundred day moving average price is $7.89. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. The company has a market cap of $14.28 billion, a PE ratio of 134.01, a PEG ratio of 2.30 and a beta of 1.60. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $14.44.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. On average, analysts predict that SoFi Technologies will post 0.12 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 over the last 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after purchasing an additional 1,366,271 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after acquiring an additional 690,638 shares during the period. Marshall Wace LLP grew its stake in shares of SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after buying an additional 3,593,464 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Institutional investors and hedge funds 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.