The Goldman Sachs Group Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target increased by investment analysts at The Goldman Sachs Group from $8.50 to $9.50 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price objective indicates a potential downside of 41.25% from the stock's current price.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Stock Performance

SOFI traded up $0.09 during trading on Tuesday, hitting $16.17. The company's stock had a trading volume of 51,700,551 shares, compared to its average volume of 48,117,941. The business's 50 day simple moving average is $15.75 and its 200-day simple moving average is $11.15. The firm has a market cap of $17.55 billion, a PE ratio of 161.72, a P/E/G ratio of 1.19 and a beta of 1.78. SoFi Technologies has a one year low of $6.01 and a one year high of $18.42. 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 results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same period in the previous year, the business earned $0.04 earnings per share. As a group, sell-side analysts predict that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,590 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares of the company's stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in SoFi Technologies by 214.9% in 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 acquiring an additional 2,688,847 shares in the last quarter. Quadrature Capital Ltd purchased a new position in SoFi Technologies during the 3rd quarter worth $16,014,000. Zacks Investment Management acquired a new position in SoFi Technologies during the 3rd quarter valued at about $3,766,000. Point72 DIFC Ltd acquired a new stake in SoFi Technologies in the third quarter worth about $3,219,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of SoFi Technologies by 20.6% during the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company's stock worth $17,365,000 after acquiring an additional 376,899 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.