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

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) has been assigned an average rating of "Hold" from the sixteen brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $14.38.

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. JMP Securities began coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Citigroup upped their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th.

SoFi Technologies Stock Performance

Shares of SOFI stock traded up $0.73 during mid-day trading on Friday, reaching $13.91. 13,943,244 shares of the company's stock traded hands, compared to its average volume of 46,968,656. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $18.42. The firm has a 50 day moving average price of $11.89 and a two-hundred day moving average price of $13.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market capitalization of $15.25 billion, a PE ratio of 37.52, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84.

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, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. On average, research analysts forecast that SoFi Technologies will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares of the company's stock, valued at $2,617,329.18. This trade represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock worth $1,271,115 in the last three months. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the company. Elequin Capital LP increased its holdings in shares of SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after acquiring an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after acquiring an additional 685 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock worth $208,000 after acquiring an additional 1,000 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of SoFi Technologies by 13.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Bank of New Hampshire boosted its position in shares of SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after buying an additional 1,000 shares during the period. 38.43% of the stock is currently owned by 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.