SoFi Technologies (NASDAQ:SOFI) Given New $18.00 Price Target at Citigroup

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its target price increased by equities research analysts at Citigroup from $12.50 to $18.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target indicates a potential upside of 24.14% from the stock's current price.

A number of other analysts also recently issued reports on SOFI. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $11.71.

SoFi Technologies Stock Up 3.1 %

Shares of SOFI stock traded up $0.43 during trading hours on Tuesday, reaching $14.50. The company had a trading volume of 33,993,449 shares, compared to its average volume of 39,688,156. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 145.01, a price-to-earnings-growth ratio of 2.70 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $17.19. The business has a fifty day simple moving average of $15.08 and a 200-day simple moving average of $10.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm 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 business's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) EPS. On average, research analysts expect that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares of the company's stock, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now directly owns 482,083 shares of the company's stock, valued at $7,742,252.98. The trade was a 78.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC grew its stake in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies during the 3rd quarter valued at $28,000. Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the 3rd quarter worth $39,000. Finally, AdvisorNet Financial Inc increased its position in shares of SoFi Technologies by 63.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company's stock valued at $84,000 after acquiring an additional 2,130 shares during the period. Institutional investors own 38.43% of the company's stock.

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.