Keefe, Bruyette & Woods Increases SoFi Technologies (NASDAQ:SOFI) Price Target to $14.00

Key Points

• Keefe, Bruyette & Woods has raised SoFi Technologies' price target from $13.00 to $14.00 while maintaining an "underperform" rating, indicating a potential downside of 35.81% from the stock's previous close.
• SoFi Technologies reported earnings per share of $0.08 for the last quarter, exceeding analyst expectations, but its revenue fell short of estimates at $519.37 million compared to expected $801.94 million.
• Currently, SoFi Technologies has a consensus rating of "Hold" and a price target of $18.12, with analysts' ratings ranging from sell to strong buy.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective raised by investment analysts at Keefe, Bruyette & Woods from $13.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Keefe, Bruyette & Woods' price target would suggest a potential downside of 35.81% from the stock's previous close.

A number of other research analysts have also commented on the stock. TD Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 price objective on the stock. Citizens Jmp cut SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a report on Friday. Morgan Stanley reaffirmed an "underweight" rating and set a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Finally, Stephens started coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and a consensus target price of $18.12.

SoFi Technologies Price Performance

Shares of SOFI opened at $21.81 on Tuesday. SoFi Technologies has a one year low of $6.01 and a one year high of $25.11. The stock's fifty day moving average is $17.77 and its 200-day moving average is $14.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.51%. SoFi Technologies's revenue was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. Equities analysts anticipate that SoFi Technologies will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,181 shares of company stock valued at $4,043,240 over the last quarter. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of SoFi Technologies in the fourth quarter worth about $299,980,000. Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock worth $75,278,000 after buying an additional 159,109 shares during the last quarter. Northern Trust Corp boosted its stake in shares of SoFi Technologies by 22.7% during the 4th quarter. Northern Trust Corp now owns 6,052,301 shares of the company's stock worth $93,205,000 after acquiring an additional 1,121,550 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of SoFi Technologies during the 4th quarter valued at about $75,139,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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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