Brokerages Set SoFi Technologies, Inc. (NASDAQ:SOFI) PT at $9.03

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) has been assigned an average recommendation of "Hold" from the nineteen brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $9.03.

Several brokerages have commented on SOFI. Wedbush reiterated an "underperform" rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Wednesday, March 6th. Morgan Stanley reissued an "underweight" rating and issued a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Jefferies Financial Group decreased their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, March 26th. Needham & Company LLC started coverage on shares of SoFi Technologies in a report on Wednesday. They issued a "buy" rating and a $10.00 price target for the company. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $6.50 price target (down previously from $7.50) on shares of SoFi Technologies in a report on Wednesday, January 3rd.

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of the firm's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its position in SoFi Technologies by 11.7% during the second quarter. US Bancorp DE now owns 11,750 shares of the company's stock worth $98,000 after acquiring an additional 1,235 shares during the last quarter. Snowden Capital Advisors LLC raised its position in shares of SoFi Technologies by 8.8% in the second quarter. Snowden Capital Advisors LLC now owns 15,375 shares of the company's stock valued at $128,000 after buying an additional 1,250 shares in the last quarter. Wedmont Private Capital raised its position in shares of SoFi Technologies by 13.2% in the fourth quarter. Wedmont Private Capital now owns 12,068 shares of the company's stock valued at $120,000 after buying an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of SoFi Technologies by 0.7% in the third quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company's stock valued at $1,536,000 after buying an additional 1,413 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of SoFi Technologies by 8.9% in the second quarter. MetLife Investment Management LLC now owns 18,167 shares of the company's stock valued at $152,000 after buying an additional 1,481 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 3.1 %

SOFI stock traded down $0.23 during trading on Thursday, hitting $7.31. The company had a trading volume of 49,466,366 shares, compared to its average volume of 55,482,793. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $7.85 and a 200-day moving average price of $7.95. SoFi Technologies has a 12 month low of $4.45 and a 12 month high of $11.70. The stock has a market cap of $7.14 billion, a price-to-earnings ratio of -20.13 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Monday, January 29th. The company reported $0.02 EPS for the quarter. The company had revenue of $615.40 million during the quarter, compared to analysts' expectations of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business's revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS. As a group, analysts predict that SoFi Technologies will post 0.07 earnings per share for the current year.

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.