SoFi Technologies, Inc. (NASDAQ:SOFI) Receives $9.08 Average Price Target from Analysts

SoFi Technologies, Inc. (NASDAQ:SOFI) has received an average rating of “Hold” from the seventeen analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $9.32.

A number of research firms have recently commented on SOFI. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. BTIG Research began coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Jefferies Financial Group lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 target price on the stock.

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto purchased 28,900 shares of the stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the acquisition, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other SoFi Technologies news, CEO Anthony Noto purchased 28,900 shares of the stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the acquisition, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 88,390 shares of company stock valued at $597,569. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. Norges Bank acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $71,349,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after acquiring an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after acquiring an additional 6,870,610 shares during the period. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after acquiring an additional 5,057,233 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $38,595,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $6.32 on Tuesday. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of -20.39, a PEG ratio of 1.46 and a beta of 1.72. The firm’s 50-day moving average is $7.00 and its 200 day moving average is $7.76. SoFi Technologies has a 1 year low of $6.20 and a 1 year high of $11.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. Sell-side analysts anticipate that SoFi Technologies will post 0.08 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.