SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $12.00 at Barclays

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target upped by Barclays from $11.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential downside of 5.51% from the stock's current price.

Several other research analysts also recently weighed in on SOFI. William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. UBS Group upped their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.38.

SoFi Technologies Stock Performance

Shares of SOFI traded up $0.19 during trading hours on Wednesday, hitting $12.70. The stock had a trading volume of 50,644,874 shares, compared to its average volume of 46,731,226. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a 50-day moving average price of $11.99 and a 200 day moving average price of $13.76. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The company's revenue was up 32.7% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies will post 0.26 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was 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 directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock valued at $1,271,115 in the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies in the 4th quarter valued at approximately $31,000. Garde Capital Inc. purchased a new stake in SoFi Technologies in the first quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at approximately $32,000. Finally, Larson Financial Group LLC lifted its stake in SoFi Technologies by 127.1% during the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after purchasing an additional 1,519 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

About SoFi Technologies

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.