JMP Securities Reaffirms Market Perform Rating for SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies (NASDAQ:SOFI - Get Free Report)'s stock had its "market perform" rating reissued by JMP Securities in a research note issued to investors on Monday,Benzinga reports. They presently have a $17.00 price objective on the stock. JMP Securities' target price suggests a potential downside of 19.37% from the company's current price.

A number of other research firms have also weighed in on SOFI. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. TD Cowen began coverage on shares of SoFi Technologies in a research note on Friday. They issued a "hold" rating and a $21.00 price target on the stock. Citizens Jmp restated a "market perform" rating on shares of SoFi Technologies in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a report on Thursday. Finally, Barclays raised their target price on shares of SoFi Technologies from $12.00 to $18.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average price target of $16.41.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded down $0.12 during mid-day trading on Monday, hitting $21.08. 22,843,088 shares of the company's stock traded hands, compared to its average volume of 53,275,352. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $21.86. The company has a market capitalization of $23.31 billion, a P/E ratio of 50.91, a PEG ratio of 3.57 and a beta of 1.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The company's 50-day moving average is $15.15 and its two-hundred day moving average is $14.17.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted 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 17.21% and a return on equity of 3.34%. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same period in the prior year, the company posted $0.02 EPS. The firm's revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities analysts anticipate that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 11,520 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,095 shares of company stock valued at $3,939,168. Company insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently bought and sold shares of the company. Berkshire Capital Holdings Inc. grew its holdings in SoFi Technologies by 6,208,000.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after buying an additional 620,800 shares during the period. CMG Global Holdings LLC grew its stake in SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after purchasing an additional 61,443 shares in the last quarter. Geode Capital Management LLC increased its holdings in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at approximately $259,000. Finally, MFG Wealth Management Inc. grew its position in shares of SoFi Technologies by 27.7% during the first quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company's stock worth $1,818,000 after buying an additional 33,887 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.

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