SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Average Rating of "Hold" from Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) have earned an average recommendation of "Hold" from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $14.73.

A number of research firms recently issued reports on SOFI. Citizens Jmp began coverage on SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price on the stock. JMP Securities began coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target for the company. Barclays boosted their price target on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. Finally, Truist Financial initiated coverage on SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective for the company.

SoFi Technologies Trading Up 2.4%

NASDAQ:SOFI opened at $17.18 on Friday. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $18.42. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $13.76 and a 200-day simple moving average of $13.97. The company has a market capitalization of $18.99 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 2.84 and a beta of 1.82.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results 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. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The company had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. During the same quarter in the previous year, the business posted $0.02 earnings per share. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. On average, equities research analysts expect that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 11,520 shares of the business'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 sale, the executive vice president now directly owns 203,509 shares in the company, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the transaction, the chief technology officer now owns 724,321 shares in the company, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock valued at $3,939,168 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. increased its stake in SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after acquiring an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SoFi Technologies during the 4th quarter worth about $3,703,000. Midwest Professional Planners LTD. acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $836,000. Oppenheimer & Co. Inc. raised its holdings in SoFi Technologies by 47.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company's stock valued at $5,628,000 after buying an additional 118,288 shares during the period. Finally, Geode Capital Management LLC raised its holdings in SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after buying an additional 315,899 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

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.

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