SoFi Technologies (NASDAQ:SOFI) Given New $18.00 Price Target at Barclays

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target upped by investment analysts at Barclays from $12.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price target would indicate a potential downside of 14.16% from the stock's current price.

Other equities analysts also recently issued reports about the stock. UBS Group lifted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. JMP Securities began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price objective for the company. Citizens Jmp started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price on the stock. Stephens initiated coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target for the company. Finally, 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. 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 given a strong buy rating to the company. According to MarketBeat.com, SoFi Technologies has an average rating of "Hold" and an average price target of $15.47.

SoFi Technologies Price Performance

SoFi Technologies stock traded up $0.75 during midday trading on Tuesday, reaching $20.97. The company's stock had a trading volume of 85,953,415 shares, compared to its average volume of 53,129,252. The stock has a market cap of $23.18 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 3.42 and a beta of 1.91. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $21.30. 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 business has a 50-day moving average price of $14.81 and a 200-day moving average price of $14.13.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the previous year, the company earned $0.02 EPS. The company's revenue for the quarter was up 32.7% on a year-over-year basis. On average, sell-side analysts predict that SoFi Technologies will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,520 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total value of $154,137.60. Following the completion of the transaction, the executive vice president directly owned 203,509 shares in the company, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director directly owned 289,258 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 274,095 shares of company stock worth $3,939,168. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

Institutional investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after acquiring an additional 14,281 shares during the period. Victory Capital Management Inc. raised its holdings in SoFi Technologies by 104.4% during the fourth quarter. Victory Capital Management Inc. now owns 262,979 shares of the company's stock valued at $4,050,000 after acquiring an additional 134,318 shares during the period. M&T Bank Corp increased its holdings in SoFi Technologies by 16.1% in the 4th quarter. M&T Bank Corp now owns 52,912 shares of the company's stock valued at $815,000 after acquiring an additional 7,330 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $513,000. Finally, Raymond James Financial Inc. purchased a new position in shares of SoFi Technologies in the fourth quarter valued at $14,479,000. 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.