Mizuho Forecasts Strong Price Appreciation for SoFi Technologies (NASDAQ:SOFI) Stock

SoFi Technologies (NASDAQ:SOFI - Free Report) had its price target increased by Mizuho from $14.00 to $16.00 in a research report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

SOFI has been the subject of a number of other research reports. The Goldman Sachs Group upped their price objective 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. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price target 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, Barclays increased their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $9.80.

SoFi Technologies Stock Performance

SOFI stock traded up $0.48 on Tuesday, hitting $14.41. The company's stock had a trading volume of 35,696,582 shares, compared to its average volume of 47,540,383. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $14.44. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 140.01, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. The firm has a 50 day moving average of $9.84 and a two-hundred day moving average of $8.00.

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 return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm's revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts predict that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 17.90 % 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 this link. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, 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 90 days, insiders have sold 111,636 shares of company stock valued at $904,677. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock worth $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Marshall Wace LLP boosted its holdings in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock valued at $42,026,000 after purchasing an additional 3,593,464 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company's stock worth $20,132,000 after purchasing an additional 2,440,745 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies during the third quarter valued at about $16,014,000. 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.