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SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $13.00

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target raised by research analysts at Keefe, Bruyette & Woods from $9.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Keefe, Bruyette & Woods' price objective points to a potential downside of 37.79% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Barclays raised their target price on shares of SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday. Citizens Jmp assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price on the stock. Stephens assumed coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price on the stock. Finally, JMP Securities started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Three equities research 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 company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $15.47.

Get Our Latest Stock Analysis on SOFI

SoFi Technologies Stock Up 3.4%

NASDAQ SOFI traded up $0.68 during trading hours on Thursday, hitting $20.90. The company had a trading volume of 43,831,839 shares, compared to its average volume of 57,742,977. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $21.32. The company has a market capitalization of $23.10 billion, a price-to-earnings ratio of 51.11, a P/E/G ratio of 3.38 and a beta of 1.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The firm's 50 day moving average is $14.81 and its 200 day moving average is $14.13.

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

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the firm'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 transaction of $1,039,470.85. Following the transaction, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the transaction, the director owned 289,258 shares in the company, valued at $4,162,422.62. This represents a 23.15% decrease in their position. 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 quarter. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SOFI. Two Sigma Advisers LP acquired a new position in SoFi Technologies in the fourth quarter worth approximately $299,980,000. Vanguard Group Inc. boosted its stake in 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 during the period. Norges Bank acquired a new position in SoFi Technologies in the 4th quarter worth approximately $103,678,000. Voloridge Investment Management LLC acquired a new position in SoFi Technologies in the 4th quarter worth approximately $75,139,000. Finally, Nuveen LLC acquired a new position in SoFi Technologies in the 1st quarter worth approximately $47,616,000. Institutional investors and hedge funds own 38.43% of the company's stock.

About SoFi Technologies

(Get Free Report)

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.

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Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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