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

Investment analysts at Citizens Jmp assumed coverage on shares of SoFi Technologies (NASDAQ:SOFI - Get Free Report) in a report released on Friday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $17.00 price target on the stock. Citizens Jmp's target price suggests a potential upside of 27.31% from the stock's previous close.

SOFI has been the subject of several other reports. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Citigroup increased their price objective 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. Needham & Company LLC upped their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Finally, UBS Group lifted their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and a consensus target price of $13.10.

SoFi Technologies Trading Up 1.2 %

Shares of SOFI traded up $0.15 during trading hours on Friday, hitting $13.35. 137,207,233 shares of the stock traded hands, compared to its average volume of 46,994,360. The business has a fifty day moving average of $12.14 and a 200-day moving average of $13.71. The firm has a market capitalization of $14.64 billion, a PE ratio of 36.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

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 (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm's revenue was up 32.7% on a year-over-year basis. During the same period last year, the company earned $0.02 EPS. Analysts expect that SoFi Technologies will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction 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 approximately $2,617,329.18. The trade was a 5.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, 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. In the last ninety days, insiders sold 100,172 shares of company stock worth $1,271,115. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On SoFi Technologies

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

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.