SoFi Technologies (NASDAQ:SOFI) Announces Earnings Results, Beats Expectations By $0.01 EPS

SoFi Technologies (NASDAQ:SOFI) issued its earnings results on Monday. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01, Zacks reports. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%.

SoFi Technologies Trading Down 0.6 %

SoFi Technologies stock opened at $17.92 on Monday. The business has a 50 day moving average price of $15.71 and a two-hundred day moving average price of $11.08. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $18.42. The stock has a market cap of $19.45 billion, a price-to-earnings ratio of 179.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78.

Insider Activity

In other news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Barclays increased their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday. Finally, The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average target price of $11.71.

About SoFi Technologies

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.