SoFi Technologies (NASDAQ:SOFI) Trading 0.9% Higher - Should You Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) shares rose 0.9% during mid-day trading on Thursday . The stock traded as high as $10.86 and last traded at $10.76. Approximately 8,436,239 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 45,938,694 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

Several research firms have recently commented on SOFI. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. UBS Group lifted their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Up 3.0 %

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm's fifty day simple moving average is $12.60 and its 200-day simple moving average is $13.52. The company has a market cap of $12.04 billion, a PE ratio of 29.67, a P/E/G ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the firm posted $0.04 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares of the company's stock, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock valued at $1,308,075 in the last ninety days. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. Mayfair Advisory Group LLC boosted its holdings in shares of SoFi Technologies by 24.1% in the 1st quarter. Mayfair Advisory Group LLC now owns 15,685 shares of the company's stock valued at $182,000 after purchasing an additional 3,050 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of SoFi Technologies by 66.9% in the 1st quarter. Rakuten Securities Inc. now owns 148,461 shares of the company's stock worth $1,727,000 after buying an additional 59,494 shares during the period. Copia Wealth Management boosted its holdings in SoFi Technologies by 3,316.0% in the first quarter. Copia Wealth Management now owns 3,416 shares of the company's stock valued at $40,000 after acquiring an additional 3,316 shares during the last quarter. Sowell Financial Services LLC acquired a new position in SoFi Technologies in the first quarter valued at $259,000. Finally, Janney Montgomery Scott LLC grew its position in SoFi Technologies by 17.6% during the first quarter. Janney Montgomery Scott LLC now owns 147,931 shares of the company's stock valued at $1,720,000 after acquiring an additional 22,187 shares during the period. 38.43% of the stock is 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.