Jefferies Financial Group Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI) had its target price hoisted by Jefferies Financial Group from $12.00 to $13.00 in a report issued on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

SOFI has been the subject of several other research reports. Barclays lowered their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Trading Down 1.2 %

SOFI opened at $11.04 on Tuesday. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $11.50. The company has a fifty day moving average of $8.67 and a 200-day moving average of $7.56. The stock has a market cap of $11.77 billion, a PE ratio of 110.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. On average, sell-side analysts predict that SoFi Technologies will post 0.12 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred 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 transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,636 shares of company stock valued at $904,677. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently bought and sold shares of the business. Stratos Wealth Advisors LLC increased its position in shares of SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the last quarter. NBC Securities Inc. grew its position in SoFi Technologies by 12.7% during the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after buying an additional 1,081 shares during the period. Rosenberg Matthew Hamilton increased its holdings in SoFi Technologies by 11.4% during the third quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock worth $95,000 after buying an additional 1,226 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position 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 worth $29,000 after acquiring an additional 1,543 shares during the period. Finally, Pegasus Asset Management Inc. raised its position in SoFi Technologies by 1.4% in the third quarter. Pegasus Asset Management Inc. now owns 112,951 shares of the company’s stock worth $888,000 after acquiring an additional 1,607 shares during the period. 38.43% of the stock is currently owned by institutional investors.

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.