SoFi Technologies, Inc. (NASDAQ:SOFI) Given Consensus Rating of "Hold" by Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) has received an average rating of "Hold" from the nineteen brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $16.78.

A number of research analysts have weighed in on SOFI shares. The Goldman Sachs Group started coverage on SoFi Technologies in a report on Monday, July 14th. They set a "neutral" rating and a $19.00 target price for the company. Truist Financial boosted their price objective on SoFi Technologies from $14.00 to $20.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Cowen started coverage on SoFi Technologies in a research report on Friday, July 11th. They issued a "hold" rating for the company. TD Cowen started coverage on SoFi Technologies in a research report on Friday, July 11th. They issued a "hold" rating and a $21.00 target price for the company. Finally, Stephens started 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.

SoFi Technologies Stock Performance

SoFi Technologies stock traded down $0.18 during midday trading on Wednesday, reaching $21.34. The stock had a trading volume of 28,631,800 shares, compared to its average volume of 58,009,563. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $22.74. The firm's 50-day moving average price is $16.59 and its 200 day moving average price is $14.57. The firm has a market capitalization of $23.58 billion, a PE ratio of 52.06, a P/E/G ratio of 3.64 and a beta of 1.91. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. During the same period in the previous year, the business posted $0.02 EPS. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. As a group, research analysts predict that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 11,520 shares of the company'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 transaction, the executive vice president owned 203,509 shares in the company, valued at $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,181 shares of company stock valued at $4,043,240. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. Two Sigma Advisers LP purchased a new stake in SoFi Technologies in the 4th quarter valued at about $299,980,000. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares in the last quarter. Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $103,678,000. Voloridge Investment Management LLC bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $75,139,000. Finally, Nuveen LLC acquired a new position in SoFi Technologies during the 1st quarter valued at approximately $47,616,000. 38.43% of the stock is 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.