SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Analysts’ Average “Moderate Buy” Recommendation

SoFi Technologies, Inc. (NASDAQ: SOFI – Get a rating) received an average “moderate buy” rating from the fifteen brokerages that currently cover the company, Marketbeat reports. Five investment analysts gave the stock a hold rating and eight gave the company a buy rating. The 12-month average price target among brokerages that have updated their coverage on the stock over the past year is $13.36.

Several equity research analysts weighed in on the stock. Morgan Stanley raised its price target on SoFi Technologies shares from $7.00 to $7.50 and gave the company an “equal weight” rating in a Thursday, Aug. 25 research note. Credit Suisse Group raised its price target on SoFi Technologies shares from $8.00 to $8.50 and gave the stock a “neutral” rating in a Wednesday, August 3 report. Seaport Res Ptn reaffirmed a “neutral” rating on SoFi Technologies shares in a Friday, September 9 report. Bank of America upgraded SoFi Technologies shares from a “neutral” to a “buy” rating and raised its price target for the stock from $8.00 to $9.00 in a Wednesday report September 14. Finally, Piper Sandler cut her price target on SoFi Technologies shares from $10.00 to $8.00 and set an “overweight” rating for the company in a Wednesday, June 29 report.

Insider buying and selling

Separately, major shareholder Group Corp Softbank sold 5,381,785 shares of the company in a transaction on Friday, August 5. The shares were sold at an average price of $7.99, for a total transaction of $43,000,462.15. Following the completion of the transaction, the insider now owns 89,900,110 shares of the company, valued at $718,301,878.90. The sale was disclosed in an SEC filing, available at the SEC website. 13.00% of the shares are currently held by insiders.

Institutional entries and exits

Institutional investors and hedge funds have recently increased or reduced their stake in the company. WASHINGTON TRUST Co bought a new position in SoFi Technologies in the first quarter worth $26,000. US Bancorp DE increased its stake in SoFi Technologies by 197.0% in the first quarter. US Bancorp DE now owns 3,015 shares of the company valued at $28,000 after buying an additional 2,000 shares last quarter. Herold Advisors Inc. bought a new position in SoFi Technologies in the first quarter worth $29,000. Wealth Advisors SOA LLC. increased its stake in SoFi Technologies by 113.3% in the first quarter. Wealth Advisors SOA LLC. now owns 3,200 shares of the company valued at $30,000 after purchasing an additional 1,700 shares last quarter. Finally, SRS Capital Advisors Inc. increased its stake in SoFi Technologies by 1,372.5% in the first quarter. SRS Capital Advisors Inc. now owns 3,269 shares of the company valued at $31,000 after purchasing an additional 3,047 shares in the last quarter. Hedge funds and other institutional investors hold 38.19% of the company’s shares.

SoFi Technologies Price Performance

Shares of SOFI opened at $4.88 on Friday. The company has a market capitalization of $4.47 billion, a price-earnings ratio of -10.61 and a beta of 1.53. SoFi Technologies has a 12-month low of $4.79 and a 12-month high of $24.65. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt ratio of 0.72. The company has a 50-day moving average of $6.35 and a 200-day moving average of $6.78.

SoFi Technologies (NASDAQ: SOFI – Get a rating) last announced its results on Tuesday, August 2. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The company posted revenue of $362.53 million in the quarter, versus a consensus estimate of $346.39 million. SoFi Technologies posted a negative net margin of 27.19% and a negative return on equity of 7.30%. As a group, analysts expect SoFi Technologies to post -0.45 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

(Get a rating)

SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow its members to borrow, save, spend, invest and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

Further reading

Analyst Recommendations for SoFi Technologies (NASDAQ: SOFI)

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