Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) Price Target at $9.32

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have received a consensus recommendation of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.80.

Several equities analysts have recently commented on SOFI shares. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th.

SoFi Technologies Trading Up 3.5 %

Shares of SOFI stock opened at $14.42 on Friday. The stock has a market cap of $15.65 billion, a P/E ratio of 144.20, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $14.44. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $8.05.

SoFi Technologies (NASDAQ:SOFI) last released 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 firm had revenue of $697.10 million during 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 company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. On average, research analysts predict that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, 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. Over the last 90 days, insiders sold 111,636 shares of company stock valued at $904,677. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. acquired a new position in SoFi Technologies in the first quarter valued at $79,000. Empowered Funds LLC grew its stake in SoFi Technologies by 22.2% during the first quarter. Empowered Funds LLC now owns 47,854 shares of the company’s stock worth $349,000 after purchasing an additional 8,707 shares during the period. Swiss National Bank grew its stake in SoFi Technologies by 1.1% during the first quarter. Swiss National Bank now owns 1,798,400 shares of the company’s stock worth $13,128,000 after purchasing an additional 19,600 shares during the period. QRG Capital Management Inc. increased its holdings in SoFi Technologies by 4.0% in the first quarter. QRG Capital Management Inc. now owns 53,849 shares of the company’s stock worth $393,000 after purchasing an additional 2,095 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in SoFi Technologies by 341.0% in the first quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company’s stock valued at $318,000 after buying an additional 33,732 shares during the period. 38.43% of the stock is owned by 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.