SoFi Technologies (NASDAQ:SOFI) is trading 1% higher


The shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report) rose 1% in afternoon trading on Friday. The stock traded as high as $7.24 and last traded at $7.20. During trading, 8,589,660 shares changed hands, down 84% from the average session volume of 52,592,977 shares. The stock previously closed at $7.13.

Analysts set new price targets

Several brokers have recently released reports on SOFI. Wedbush reissued an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Wednesday, March 6. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price target for the company from $6.50 to $7.50 in a research note on Friday, April 5. Mizuho lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18. Needham & Company LLC initiated coverage on SoFi Technologies in a research note on Wednesday, April 3. They set a buy rating and a target price of €10.00 for the share. Finally, Citigroup began coverage on SoFi Technologies in a research note on Monday, April 8. They set a buy rating and a target price of $11.00 for the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.08.

Check out our latest report on SOFI

SoFi technologies decline by 0.3%

The stock has a market cap of $6.94 billion, a price-to-earnings ratio of -18.71 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The stock has a fifty-day moving average of $7.72 and a 200-day moving average of $7.91.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last reported its earnings results on Monday, January 29th. The company reported earnings per share of $0.02 for the quarter. The company had revenue of $615.40 million during the quarter, compared to analyst expectations of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company’s quarterly revenue rose 34.7% year over year. During the same quarter of the previous year, the company earned ($0.05) earnings per share. Stock analysts expect SoFi Technologies, Inc. will post a profit per share of 0.08 for the current year.

Insider transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, March 19. The stock sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the Chief Technology Officer now owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company’s shares.

Hedge funds are weighing in on SoFi technologies

A number of major investors have recently bought and sold shares of SOFI. Snowden Capital Advisors LLC increased its position in SoFi Technologies by 8.8% during the second quarter. Snowden Capital Advisors LLC now owns 15,375 shares of the company’s stock valued at $128,000 after purchasing an additional 1,250 shares in the last quarter. Wedmont Private Capital increased its position in SoFi Technologies by 13.2% during the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock valued at $120,000 after purchasing an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in SoFi Technologies by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company’s stock, valued at $1,536,000, after purchasing an additional 1,413 shares in the last quarter. MetLife Investment Management LLC increased its position in SoFi Technologies by 8.9% during the second quarter. MetLife Investment Management LLC now owns 18,167 shares of the company’s stock valued at $152,000 after purchasing an additional 1,481 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in SoFi Technologies by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after purchasing an additional 1,498 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s shares.

SoFi Technologies Company Profile

(Get a free report)

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 provides lending and financial services and products that enable its members to borrow, save, spend, invest and protect money.

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