SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $18.00

SoFi Technologies (NASDAQ:SOFI) had its price target raised by Citigroup from $12.50 to $18.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Bank of America reiterated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley increased their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Jefferies Financial Group lifted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $16.30 on Tuesday. The company’s 50 day moving average price is $15.16 and its two-hundred day moving average price is $10.52. The firm has a market capitalization of $17.69 billion, a P/E ratio of 163.02, a P/E/G ratio of 0.96 and a beta of 1.78. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released 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. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter last year, the business posted ($0.03) EPS. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the sale, the director now owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. This represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock worth $416,889,795 in the last three months. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in SoFi Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies in the third quarter worth approximately $28,000. FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies during the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of SoFi Technologies during the third quarter valued at approximately $47,000. 38.43% of the stock is currently 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.