Barclays Forecasts Strong Price Appreciation for SoFi Technologies (NASDAQ:SOFI) Stock

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target upped by research analysts at Barclays from $12.00 to $18.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential downside of 14.53% from the company's previous close.

Several other research firms have also recently commented on SOFI. Needham & Company LLC restated a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. Stephens initiated coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target for the company. JMP Securities initiated coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target for the company. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. Finally, Truist Financial initiated coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.13.

SoFi Technologies Stock Up 4.1%

Shares of SOFI stock traded up $0.84 during trading on Tuesday, hitting $21.06. 36,953,373 shares of the company were exchanged, compared to its average volume of 52,887,722. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 51.43, a P/E/G ratio of 3.38 and a beta of 1.91. The business's 50-day simple moving average is $14.81 and its 200 day simple moving average is $14.13. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $21.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly 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. The business 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 quarterly revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share. As a group, analysts forecast that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the fourth quarter worth $27,000. Hazlett Burt & Watson Inc. grew its stake in shares of SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies in the first quarter worth $28,000. SVB Wealth LLC acquired a new stake in SoFi Technologies during the first quarter worth $28,000. Finally, Hollencrest Capital Management acquired a new stake in SoFi Technologies during the fourth quarter worth $31,000. Institutional investors and hedge funds 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.