SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Average Recommendation of “Hold” from Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have been assigned an average rating of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.14.

A number of analysts have weighed in on the company. BTIG Research initiated coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Barclays cut their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods cut their target price 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.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The disclosure for this sale can be found here. Insiders have sold a total of 102,328 shares of company stock worth $808,246 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC acquired a new stake in SoFi Technologies in the first quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its holdings in SoFi Technologies by 55.3% during 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 in the last quarter. SOA Wealth Advisors LLC. grew its stake in SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the period. GAMMA Investing LLC increased its holdings in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth about $37,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $7.86 on Thursday. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $10.49. The company has a market capitalization of $8.31 billion, a P/E ratio of -25.35, a P/E/G ratio of 1.60 and a beta of 1.70. The stock has a 50 day moving average of $7.38 and a two-hundred day moving average of $7.16. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same quarter in the previous year, the company earned ($0.06) earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts expect that SoFi Technologies will post 0.1 EPS for the current year.

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.