Barclays Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI) had its price target raised by Barclays from $8.00 to $9.00 in a research note released on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

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

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $11.22 on Wednesday. The firm has a market cap of $11.96 billion, a PE ratio of 112.20, a PEG ratio of 2.08 and a beta of 1.70. The firm has a fifty day moving average of $8.52 and a 200 day moving average of $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 one year low of $6.01 and a one year high of $11.50.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. As a group, research analysts predict that SoFi Technologies will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

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 shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This 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 can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the 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 sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock valued at $904,677 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Trading of SoFi Technologies

Hedge funds have recently made changes to their positions in the business. ORG Partners LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth about $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of SoFi Technologies by 55.3% during the second 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies during the third quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies during the third quarter worth approximately $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.