SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Has Consensus Price Target of $21.27

Key Points

• Analyst sentiment is mixed: 24 analysts give SoFi a consensus “Hold” rating, with an average 12-month price target of $21.27.
• SoFi reported quarterly EPS of $0.18, beating the $0.17 consensus, while revenue of $1.37 billion topped estimates and rose 44.4% year over year.
• The stock opened at $16.75 and has traded between $13.86 and $32.73 over the past 52 weeks.

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) has received a consensus rating of "Hold" from the twenty-four ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $21.27.

Several research firms have recently issued reports on SOFI. Morgan Stanley lowered their price objective on SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a research report on Thursday, July 30th. Needham & Company LLC reissued a "buy" rating and set a $24.00 price objective on shares of SoFi Technologies in a research report on Wednesday, October 28th. Loop Capital assumed coverage on shares of SoFi Technologies in a research note on Tuesday, September 8th. They issued a "hold" rating and a $22.00 price objective on the stock. Piper Sandler assumed coverage on shares of SoFi Technologies in a report on Monday, August 17th. They issued an "overweight" rating and a $22.00 target price for the company. Finally, Bank of America reaffirmed an "underperform" rating and set a $16.50 price target on shares of SoFi Technologies in a report on Wednesday, October 28th.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $16.75 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The company has a market cap of $21.63 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 1.08 and a beta of 2.25. The company has a fifty day simple moving average of $16.33 and a two-hundred day simple moving average of $17.60. SoFi Technologies has a 52 week low of $13.86 and a 52 week high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. SoFi Technologies had a return on equity of 6.89% and a net margin of 15.60%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company posted $0.11 earnings per share. The business's revenue for the quarter was up 44.4% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies will post 0.61 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,203 shares of the company's stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $14.72, for a total transaction of $150,188.16. Following the transaction, the executive vice president owned 397,870 shares of the company's stock, valued at $5,856,646.40. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the transaction, the chief technology officer owned 912,650 shares of the company's stock, valued at $15,971,375. This represents a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 50,316 shares of company stock valued at $852,605. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brendel Financial Advisors LLC acquired a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $215,000. Thoroughbred Financial Services LLC raised its holdings in SoFi Technologies by 2.9% during the third quarter. Thoroughbred Financial Services LLC now owns 30,813 shares of the company's stock worth $484,000 after purchasing an additional 873 shares during the last quarter. Harbour Investments Inc. raised its holdings in SoFi Technologies by 4.2% during the third quarter. Harbour Investments Inc. now owns 93,547 shares of the company's stock worth $1,471,000 after purchasing an additional 3,760 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in SoFi Technologies by 1,437.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 42,280 shares of the company's stock worth $672,000 after purchasing an additional 39,530 shares during the last quarter. Finally, Diversified Trust Co boosted its position in SoFi Technologies by 2.7% during the third quarter. Diversified Trust Co now owns 27,039 shares of the company's stock worth $425,000 after purchasing an additional 722 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies

SoFi Technologies, Inc is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings.

Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.

SoFi primarily serves consumers in the United States.

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