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

Key Points

• SoFi Technologies, Inc. has received a consensus rating of "Hold" from 21 brokerages, with a mix of recommendations including three sells, eleven holds, six buys, and one strong buy.
• Analysts have set an average twelve-month price target for SoFi stock at $18.29, with several firms updating their price objectives recently.
• Insider trading has seen significant activity, with CTO Jeremy Rishel selling over 66,000 shares and Director Magdalena Yesil also reducing their holdings, highlighting potential concerns over insider sentiment.

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the twenty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.2941.

Several analysts recently weighed in on the stock. Stephens assumed coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price objective on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Finally, Barclays lifted their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,520 shares of the business's stock in a transaction 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 sale, the executive vice president owned 203,509 shares of the company's stock, valued at $2,722,950.42. The trade was a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. This represents a 23.15% 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 worth $4,043,240 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. Hazlett Burt & Watson Inc. increased its holdings in shares of SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares in the last quarter. Headlands Technologies LLC bought a new stake in SoFi Technologies during the 1st quarter worth about $28,000. SVB Wealth LLC bought a new stake in SoFi Technologies during the 1st quarter worth about $28,000. Garde Capital Inc. bought a new stake in SoFi Technologies during the 1st quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Stock Up 1.9%

SOFI stock traded up $0.46 during mid-day trading on Friday, hitting $24.23. 45,223,951 shares of the company were exchanged, compared to its average volume of 60,230,742. The company has a market capitalization of $29.01 billion, a PE ratio of 50.48, a price-to-earnings-growth ratio of 2.94 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. SoFi Technologies has a twelve month low of $6.75 and a twelve month high of $25.11. The firm has a fifty day simple moving average of $19.41 and a 200 day simple moving average of $15.25.

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 for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The company had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same period last year, the business earned $0.01 EPS. The firm's revenue for the quarter was up 42.8% compared to the same quarter last year. On average, research analysts forecast that SoFi Technologies will post 0.26 earnings per share for the current fiscal 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.