Barclays Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price objective raised by equities researchers at Barclays from $12.00 to $18.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price objective points to a potential downside of 15.31% from the company's previous close.

Several other research firms also recently commented on SOFI. Citizens Jmp initiated coverage on SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. UBS Group lifted their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Stephens initiated coverage on SoFi Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective for the company. Finally, Truist Financial initiated coverage on SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective for the company. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.81.

SoFi Technologies Stock Up 1.4%

SOFI traded up $0.29 during trading on Tuesday, reaching $21.26. The stock had a trading volume of 80,523,535 shares, compared to its average volume of 53,248,364. The stock's 50 day moving average is $14.98 and its two-hundred day moving average is $14.17. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $23.49 billion, a price-to-earnings ratio of 51.82, a P/E/G ratio of 3.42 and a beta of 1.91. SoFi Technologies has a one year low of $6.01 and a one year high of $21.85.

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, beating 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 firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same period last year, the company earned $0.02 earnings per share. The company's revenue was up 32.7% on a year-over-year basis. As a group, analysts expect that SoFi Technologies will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 11,520 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. This trade represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,095 shares of company stock valued at $3,939,168. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in shares of SoFi Technologies by 147.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 10,771 shares of the company's stock valued at $196,000 after buying an additional 6,423 shares in the last quarter. Brendel Financial Advisors LLC purchased a new position in shares of SoFi Technologies during the 2nd quarter valued at about $2,533,000. White Wing Wealth Management purchased a new position in shares of SoFi Technologies during the 2nd quarter valued at about $187,000. Global Financial Private Client LLC lifted its position in shares of SoFi Technologies by 25.4% during the 2nd quarter. Global Financial Private Client LLC now owns 17,313 shares of the company's stock valued at $315,000 after buying an additional 3,507 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of SoFi Technologies during the 2nd quarter valued at about $6,415,000. 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.