SoFi Technologies (NASDAQ:SOFI) Coverage Initiated at TD Cowen

Investment analysts at TD Cowen initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI - Get Free Report) in a research note issued to investors on Friday, Marketbeat reports. The firm set a "hold" rating and a $21.00 price target on the stock. TD Cowen's target price indicates a potential downside of 0.94% from the company's current price.

Several other equities analysts also recently commented on the stock. JMP Securities began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective for the company. 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. Truist Financial began coverage on shares of SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on shares of SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a report on Thursday. Finally, UBS Group raised their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average target price of $15.81.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock traded up $0.23 on Friday, reaching $21.20. The stock had a trading volume of 91,867,316 shares, compared to its average volume of 53,312,081. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $21.85. The company has a market cap of $23.43 billion, a P/E ratio of 51.71, a price-to-earnings-growth ratio of 3.53 and a beta of 1.91. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The business's 50 day moving average is $15.15 and its two-hundred day moving average is $14.20.

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

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 10,267 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.22, for a total transaction of $156,263.74. Following the completion of the sale, the executive vice president directly owned 255,467 shares of the company's stock, valued at approximately $3,888,207.74. This trade represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,095 shares of company stock valued at $3,939,168. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently made changes to their positions in SOFI. Two Sigma Advisers LP purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $299,980,000. Vanguard Group Inc. lifted its holdings in 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 buying an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $103,678,000. Voloridge Investment Management LLC acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $75,139,000. Finally, Nuveen LLC acquired a new stake in SoFi Technologies during the 1st quarter worth approximately $47,616,000. Hedge funds and other institutional investors 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.