Morgan Stanley Boosts SoFi Technologies (NASDAQ:SOFI) Price Target to $13.00

SoFi Technologies (NASDAQ:SOFI) had its target price raised by Morgan Stanley from $7.50 to $13.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other brokerages have also weighed in on SOFI. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Mizuho boosted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Three 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.04.

SoFi Technologies Trading Down 1.3 %

SOFI stock traded down $0.19 during midday trading on Thursday, reaching $14.84. The company’s stock had a trading volume of 5,806,094 shares, compared to its average volume of 47,573,668. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $17.19. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 148.41, a PEG ratio of 2.65 and a beta of 1.77. The stock has a fifty day simple moving average of $13.42 and a two-hundred day simple moving average of $9.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last posted 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. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. On average, equities research analysts predict that SoFi Technologies will post 0.12 EPS for the current year.

Insider Activity

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,944,667 shares of company stock worth $415,803,539. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of SoFi Technologies by 783.5% during the second quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock worth $59,000 after purchasing an additional 7,185 shares in the last quarter. Raymond James & Associates raised its stake in shares of SoFi Technologies by 28.6% during the second quarter. Raymond James & Associates now owns 520,301 shares of the company’s stock valued at $3,439,000 after purchasing an additional 115,639 shares in the last quarter. Lakeshore Financial Planning Inc. increased its stake in SoFi Technologies by 5.4% during the 2nd quarter. Lakeshore Financial Planning Inc. now owns 87,813 shares of the company’s stock valued at $580,000 after buying an additional 4,507 shares during the period. Fullcircle Wealth LLC bought a new stake in SoFi Technologies during the second quarter worth approximately $100,000. Finally, Tempus Wealth Planning LLC bought a new stake in shares of SoFi Technologies during the 2nd quarter worth $104,000. 38.43% of the stock is owned by hedge funds and other 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.