Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) Price Target at $11.13

SoFi Technologies, Inc. (NASDAQ:SOFI) has received a consensus rating of “Reduce” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Four research 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 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.13.

Several research firms have issued reports on SOFI. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Barclays boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd.

Insiders Place Their Bets

In other news, EVP Eric Schuppenhauer bought 30,600 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $16.34 per share, with a total value of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its stake in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Zacks Investment Management bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at $3,766,000. Citizens Financial Group Inc. RI lifted its holdings in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after acquiring an additional 70,603 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the period. Finally, Qsemble Capital Management LP acquired a new position in SoFi Technologies in the third quarter valued at about $930,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 3.0 %

Shares of NASDAQ:SOFI opened at $15.29 on Friday. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $17.19. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $16.59 billion, a P/E ratio of 152.92, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. The firm has a fifty day moving average of $14.67 and a two-hundred day moving average of $10.15.

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

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.