SoFi Technologies (NASDAQ:SOFI) Research Coverage Started at Needham & Company LLC

Investment analysts at Needham & Company LLC began coverage on shares of SoFi Technologies (NASDAQ:SOFIGet Free Report) in a report issued on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 38.89% from the stock’s current price.

Several other brokerages also recently weighed in on SOFI. Mizuho reduced their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Wedbush reaffirmed an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a report on Wednesday, March 6th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $6.50 price target (down previously from $7.50) on shares of SoFi Technologies in a report on Wednesday, January 3rd. Jefferies Financial Group reduced their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on SoFi Technologies in a research report on Wednesday, January 10th. They issued a “hold” rating and a $11.00 price objective on the stock. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.03.

Check Out Our Latest Stock Report on SOFI

SoFi Technologies Trading Down 0.3 %

NASDAQ:SOFI opened at $7.20 on Wednesday. The firm has a market capitalization of $7.03 billion, a P/E ratio of -18.95 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. SoFi Technologies has a one year low of $4.45 and a one year high of $11.70. The company’s 50-day simple moving average is $7.86 and its 200 day simple moving average is $7.95.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last released its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business’s revenue was up 34.7% on a year-over-year basis. During the same period last year, the business earned ($0.05) earnings per share. As a group, analysts forecast that SoFi Technologies will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several hedge funds have recently bought and sold shares of SOFI. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after acquiring an additional 2,567,797 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of SoFi Technologies by 102.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after purchasing an additional 250,854 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of SoFi Technologies by 202.3% in the third quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock worth $120,000 after purchasing an additional 10,013 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of SoFi Technologies by 24.9% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 22,542 shares of the company’s stock valued at $180,000 after purchasing an additional 4,491 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in shares of SoFi Technologies by 18.0% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock valued at $3,117,000 after buying an additional 59,412 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

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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.

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Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

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