The Goldman Sachs Group Forecasts Strong Price Appreciation for SoFi Technologies (NASDAQ:SOFI) Stock

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective lifted by research analysts at The Goldman Sachs Group from $7.50 to $8.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price suggests a potential downside of 24.24% from the stock's current price.

A number of other research firms also recently weighed in on SOFI. Keefe, Bruyette & Woods decreased their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a "market perform" rating on the stock in a research note on Tuesday, July 9th. Barclays upped their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday. Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday. Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Finally, Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $9.71.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI traded up $0.75 on Wednesday, hitting $11.22. 94,891,267 shares of the company were exchanged, compared to its average volume of 46,903,957. The company's 50 day moving average price is $8.52 and its two-hundred day moving average price is $7.51. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 112.20, a PEG ratio of 2.08 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. SoFi Technologies has a one year low of $6.01 and a one year high of $11.50.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The company's quarterly revenue was up 29.8% compared to the same quarter last year. Research analysts expect that SoFi Technologies will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company's stock, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently bought and sold shares of the business. ORG Partners LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its stake in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock valued at $29,000 after buying an additional 1,543 shares during the period. GAMMA Investing LLC boosted its holdings in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $47,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.