SoFi Technologies (NASDAQ:SOFI) Receives "Underperform" Rating from Bank of America

SoFi Technologies (NASDAQ:SOFI - Get Free Report)'s stock had its "underperform" rating reaffirmed by stock analysts at Bank of America in a research note issued on Monday, Marketbeat.com reports. They presently have a $12.00 price target on the stock. Bank of America's price objective would suggest a potential downside of 22.93% from the company's current price.

Several other research firms have also issued reports on SOFI. Citigroup lowered shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Barclays raised their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.50.

SoFi Technologies Stock Down 2.8 %

Shares of SOFI traded down $0.45 during midday trading on Monday, reaching $15.57. 59,011,688 shares of the stock were exchanged, compared to its average volume of 47,593,898. The company has a market cap of $16.90 billion, a price-to-earnings ratio of 160.22, a P/E/G ratio of 2.66 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $16.61. The firm has a 50 day simple moving average of $12.04 and a 200-day simple moving average of $8.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company's revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share. Research analysts forecast that SoFi Technologies will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,081 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,960,748 shares of company stock worth $415,523,316 in the last ninety days. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies in the third quarter worth about $28,000. Allspring Global Investments Holdings LLC increased its position 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 worth $29,000 after purchasing an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, GAMMA Investing LLC lifted its position in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock valued at $33,000 after purchasing an additional 1,981 shares during the period. Institutional investors own 38.43% of the company's stock.

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.