Analysts Set SoFi Technologies, Inc. (NASDAQ:SOFI) Target Price at $9.32

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twelve brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $9.32.

Several research analysts recently commented on SOFI shares. Jefferies Financial Group increased 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. Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th.

SoFi Technologies Price Performance

NASDAQ:SOFI traded up $0.23 during trading hours on Friday, reaching $13.63. 48,041,277 shares of the company were exchanged, compared to its average volume of 47,592,203. The stock's 50-day moving average is $9.57 and its 200-day moving average is $7.89. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $14.44. The firm has a market cap of $14.53 billion, a PE ratio of 136.40, a price-to-earnings-growth ratio of 2.25 and a beta of 1.60. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52.

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 the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period in the previous year, the firm posted ($0.03) EPS. SoFi Technologies's revenue was up 29.8% compared to the same quarter last year. On average, sell-side analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the firm's 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 transaction, the chief technology officer now directly owns 521,505 shares of the company's stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Consolidated Investment Group LLC raised its stake in SoFi Technologies by 119.0% during the third quarter. Consolidated Investment Group LLC now owns 138,000 shares of the company's stock worth $1,085,000 after purchasing an additional 75,000 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company's stock worth $585,000 after purchasing an additional 86,545 shares during the period. SpiderRock Advisors LLC raised its position in SoFi Technologies by 98.2% in the third quarter. SpiderRock Advisors LLC now owns 251,246 shares of the company's stock valued at $1,975,000 after purchasing an additional 124,500 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in SoFi Technologies by 64.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company's stock worth $1,948,000 after acquiring an additional 115,316 shares in the last quarter. Finally, Mark Asset Management LP boosted its stake in shares of SoFi Technologies by 79.9% in the second quarter. Mark Asset Management LP now owns 340,654 shares of the company's stock valued at $2,252,000 after purchasing an additional 151,265 shares during the period. Institutional investors and hedge funds 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.