SoFi Technologies (NASDAQ:SOFI) Coverage Initiated by Analysts at Stephens

Analysts at Stephens initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI - Get Free Report) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set an "overweight" rating and a $20.00 price target on the stock. Stephens' price target would suggest a potential upside of 42.10% from the company's previous close.

A number of other equities analysts have also weighed in on SOFI. UBS Group upped their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Truist Financial assumed coverage on SoFi Technologies in a research note on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target for the company. JMP Securities assumed coverage on SoFi Technologies in a research note on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, Citizens Jmp initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.73.

SoFi Technologies Stock Performance

NASDAQ:SOFI traded down $0.83 during mid-day trading on Thursday, hitting $14.08. 66,420,674 shares of the company traded hands, compared to its average volume of 49,737,374. The stock's fifty day moving average price is $12.70 and its 200-day moving average price is $14.00. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of 38.02, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to analyst estimates 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 was up 32.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. Research analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares of the company's stock, valued at approximately $2,877,391.20. This trade represents a 4.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,787 shares of company stock valued at $3,753,076 over the last 90 days. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after acquiring an additional 14,281 shares in the last quarter. Yousif Capital Management LLC increased its position in SoFi Technologies by 13.7% during the 4th quarter. Yousif Capital Management LLC now owns 12,436 shares of the company's stock valued at $192,000 after buying an additional 1,496 shares in the last quarter. Choreo LLC increased its holdings in shares of SoFi Technologies by 15.7% during the fourth quarter. Choreo LLC now owns 19,853 shares of the company's stock valued at $310,000 after acquiring an additional 2,696 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in SoFi Technologies during the 4th quarter valued at approximately $169,000. Finally, Savant Capital LLC increased its stake in SoFi Technologies by 4.0% during the 4th quarter. Savant Capital LLC now owns 42,392 shares of the company's stock valued at $653,000 after purchasing an additional 1,614 shares in the last quarter. 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.