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

JMP Securities initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI - Get Free Report) in a note issued to investors on Friday,Benzinga reports. The firm set a "market outperform" rating and a $17.00 price target on the stock. JMP Securities' price target indicates a potential upside of 28.11% from the stock's previous close.

Several other equities analysts also recently weighed in on the stock. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Citizens Jmp assumed coverage on SoFi Technologies in a research report on Friday. They issued an "outperform" rating and a $17.00 price target for the company. Needham & Company LLC lifted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. UBS Group boosted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average price target of $13.10.

SoFi Technologies Price Performance

SOFI stock traded up $0.07 during trading on Friday, hitting $13.27. The stock had a trading volume of 170,379,663 shares, compared to its average volume of 47,117,331. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $18.42. The company's 50-day moving average price is $12.14 and its two-hundred day moving average price is $13.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a market capitalization of $14.55 billion, a P/E ratio of 35.86, a PEG ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly 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. The firm 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 business's revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. As a group, research analysts predict that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies 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 owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,172 shares of company stock valued at $1,271,115. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. Two Sigma Advisers LP acquired a new position in SoFi Technologies during the fourth quarter worth approximately $299,980,000. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 315,899 shares during the period. Norges Bank purchased a new position in shares of SoFi Technologies during the fourth quarter worth approximately $103,678,000. Finally, Charles Schwab Investment Management Inc. raised its position in SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock valued at $97,230,000 after purchasing an additional 167,780 shares during the last quarter. Hedge funds and other institutional investors 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.