Barclays Boosts SoFi Technologies (NASDAQ:SOFI) Price Target to $18.00

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target upped by equities researchers at Barclays from $12.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target indicates a potential downside of 10.98% from the stock's current price.

SOFI has been the topic of several other research reports. Stephens assumed coverage on SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target on the stock. JMP Securities assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective for the company. Truist Financial assumed coverage on SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective for the company. 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 report on Wednesday, April 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and an average price target of $15.13.

SoFi Technologies Trading Up 1.4%

Shares of SOFI stock traded up $0.27 on Tuesday, hitting $20.22. The stock had a trading volume of 63,998,077 shares, compared to its average volume of 52,883,048. The company's 50 day moving average price is $14.66 and its 200-day moving average price is $14.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $20.89. The firm has a market capitalization of $22.35 billion, a P/E ratio of 49.32, a P/E/G ratio of 3.26 and a beta of 1.91.

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 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 company had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the prior year, the business earned $0.02 EPS. SoFi Technologies's revenue was up 32.7% on a year-over-year basis. Analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,267 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.22, for a total value of $156,263.74. Following the completion of the sale, the executive vice president directly owned 255,467 shares of the company's stock, valued at $3,888,207.74. This represents a 3.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the company'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 directly owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock valued at $3,939,168 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOFI. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies during the 4th quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. raised its stake in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC purchased a new stake in SoFi Technologies during the 1st quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in SoFi Technologies during the 1st quarter valued at approximately $28,000. Finally, Hollencrest Capital Management purchased a new stake in SoFi Technologies during the 4th quarter valued at approximately $31,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

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.