SoFi Technologies (NASDAQ:SOFI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective hoisted by investment analysts at Morgan Stanley from $7.50 to $13.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Morgan Stanley's price objective indicates a potential downside of 13.51% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Bank of America reissued an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.04.

SoFi Technologies Price Performance

Shares of SOFI traded down $0.21 on Thursday, reaching $15.03. The stock had a trading volume of 43,822,809 shares, compared to its average volume of 47,743,488. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $17.19. The firm has a market capitalization of $16.31 billion, a PE ratio of 150.32, a PEG ratio of 2.65 and a beta of 1.77. The firm has a 50-day moving average of $13.30 and a 200 day moving average of $9.33. 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 (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period in the prior year, the company earned ($0.03) EPS. The firm's revenue was up 29.8% on a year-over-year basis. Sell-side analysts expect that SoFi Technologies will post 0.12 EPS for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction that occurred on 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 owns 161,511 shares of the company's stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,012,748 shares of company stock valued at $416,356,356. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently made changes to their positions in SOFI. Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after buying an additional 87,097 shares in the last quarter. Zacks Investment Management purchased a new position in SoFi Technologies in the 3rd quarter worth about $3,766,000. Citizens Financial Group Inc. RI raised its holdings in SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after buying an additional 70,603 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after buying an additional 2,688,847 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in shares of SoFi Technologies in the third quarter worth about $930,000. Institutional investors and hedge funds 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.