SoFi Technologies (NASDAQ:SOFI) Stock Price Expected to Rise, Barclays Analyst Says

SoFi Technologies (NASDAQ:SOFI) had its target price upped by Barclays from $8.00 to $9.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also commented on SOFI. Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Needham & Company LLC increased their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.71.

SoFi Technologies Stock Up 7.2 %

SOFI stock opened at $11.22 on Wednesday. The company’s 50 day moving average price is $8.52 and its 200 day moving average price is $7.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $11.50. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 112.20, a PEG ratio of 2.08 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. On average, equities research analysts anticipate that SoFi Technologies will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’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 directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 over the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. ORG Partners LLC acquired a new stake in SoFi Technologies in the first quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its holdings in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies in the third quarter valued at $39,000. GAMMA Investing LLC lifted its holdings in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the period. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in SoFi Technologies in the third quarter valued at $47,000. 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.