The Goldman Sachs Group Initiates Coverage on SoFi Technologies (NASDAQ:SOFI)

The Goldman Sachs Group initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI - Free Report) in a research note published on Monday morning. The firm issued a neutral rating and a $19.00 price target on the stock.

A number of other research firms have also recently issued reports on SOFI. TD Cowen started coverage on SoFi Technologies in a report on Friday. They issued a "hold" rating and a $21.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Citizens Jmp began 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 on the stock. Truist Financial initiated coverage on shares of SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target for the company. Finally, Barclays upped their price objective on SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $16.41.

SoFi Technologies Price Performance

NASDAQ:SOFI traded up $0.13 during mid-day trading on Monday, hitting $21.33. The company's stock had a trading volume of 66,734,260 shares, compared to its average volume of 58,428,383. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of 52.03, a P/E/G ratio of 3.57 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. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $21.86. The stock has a fifty day moving average of $15.15 and a 200-day moving average of $14.17.

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

Insider Activity

In other news, CTO Jeremy Rishel sold 66,847 shares of the business's 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 sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the transaction, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,095 shares of company stock worth $3,939,168 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

Several large investors have recently added to or reduced their stakes in SOFI. Two Sigma Advisers LP bought a new stake in shares of SoFi Technologies during the 4th quarter worth $299,980,000. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $103,678,000. Voloridge Investment Management LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $75,139,000. Finally, Nuveen LLC bought a new stake in SoFi Technologies in the 1st quarter worth approximately $47,616,000. 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.