SoFi Technologies (NASDAQ:SOFI) Coverage Initiated at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn has initiated coverage on SoFi Technologies (NASDAQ: SOFI) with a "neutral" rating and a price target of $20.50, indicating a potential downside of 9.21% from its current price.
• Other analysts have varied ratings, with Morgan Stanley maintaining an "underweight" rating at a $13.00 target, while Needham & Company upgraded its target to $25.00 with a "buy" rating.
• SoFi Technologies reported a 42.8% increase in revenue year-over-year, with earnings per share at $0.08, surpassing expectations, but their quarterly revenue fell short at $519.37 million compared to an estimate of $801.94 million.

Stock analysts at Rothschild & Co Redburn began coverage on shares of SoFi Technologies (NASDAQ:SOFI - Get Free Report) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set a "neutral" rating and a $20.50 price target on the stock. Rothschild & Co Redburn's price objective points to a potential downside of 3.44% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group began coverage on SoFi Technologies in a research note on Monday, July 14th. They issued a "neutral" rating and a $19.00 price objective on the stock. Keefe, Bruyette & Woods boosted their target price on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. Stephens began coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price for the company. Finally, Truist Financial boosted their target price on SoFi Technologies from $14.00 to $20.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $18.06.

SoFi Technologies Trading Down 6.0%

Shares of NASDAQ:SOFI traded down $1.35 during midday trading on Friday, reaching $21.23. The company's stock had a trading volume of 89,110,938 shares, compared to its average volume of 78,996,248. The firm has a market capitalization of $23.47 billion, a price-to-earnings ratio of 44.23, a PEG ratio of 2.68 and a beta of 1.92. 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 50 day moving average price of $17.59 and a two-hundred day moving average price of $14.87. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $25.11.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The firm's revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. As a group, analysts forecast that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total value of $154,137.60. Following the completion of the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. This represents a 5.36% 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 three months. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Several institutional investors have recently modified their holdings of SOFI. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies in the fourth quarter valued at approximately $32,000. Hazlett Burt & Watson Inc. lifted its stake in SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC purchased a new position in SoFi Technologies in the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in SoFi Technologies in the first quarter valued at approximately $28,000. Finally, TD Private Client Wealth LLC lifted its stake in SoFi Technologies by 153.9% in the second quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company's stock valued at $47,000 after purchasing an additional 1,553 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Company Profile

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.