SoFi Technologies’ (SOFI) “Underperform” Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their underperform rating on shares of SoFi Technologies (NASDAQ:SOFI) in a research report released on Thursday morning, MarketBeat reports. They currently have a $8.00 price objective on the stock, up from their prior price objective of $7.00.

Several other research firms have also recently weighed in on SOFI. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC boosted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.13.

SoFi Technologies Stock Up 5.0 %

SoFi Technologies stock opened at $14.84 on Thursday. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of 148.41, a PEG ratio of 2.70 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $17.19. The firm has a 50 day moving average price of $14.59 and a two-hundred day moving average price of $10.06.

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

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SOFI. Bank of New York Mellon Corp raised its stake in SoFi Technologies by 16.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company’s stock valued at $20,604,000 after purchasing an additional 443,198 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in SoFi Technologies by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 618,955 shares of the company’s stock valued at $4,091,000 after buying an additional 10,379 shares during the period. CIBC Asset Management Inc increased its position in SoFi Technologies by 29.6% during the second quarter. CIBC Asset Management Inc now owns 27,447 shares of the company’s stock valued at $181,000 after acquiring an additional 6,269 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of SoFi Technologies by 5.7% in the second quarter. Rhumbline Advisers now owns 979,183 shares of the company’s stock valued at $6,472,000 after acquiring an additional 53,124 shares during the period. 38.43% of the stock is 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.