Jefferies Financial Group Boosts SoFi Technologies (NASDAQ:SOFI) Price Target to $13.00

SoFi Technologies (NASDAQ:SOFI) had its target price upped by stock analysts at Jefferies Financial Group from $12.00 to $13.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 24.16% from the company’s current price.

A number of other equities research analysts have also recently commented on SOFI. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays dropped their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Keefe, Bruyette & Woods lowered their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.33.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI traded down $0.72 during trading on Tuesday, reaching $10.47. 164,620,830 shares of the company traded hands, compared to its average volume of 46,672,500. The firm’s fifty day simple moving average is $8.38 and its 200 day simple moving average is $7.46. The stock has a market cap of $11.07 billion, a P/E ratio of -33.77, a PEG ratio of 2.08 and a beta of 1.70. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $11.34. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same period last year, the firm earned ($0.06) EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, research analysts anticipate that SoFi Technologies will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated 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 transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,636 shares of company stock valued at $904,677. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC bought a new position in SoFi Technologies in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its position in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. GAMMA Investing LLC grew its position in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies in the 3rd quarter worth about $47,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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.