SoFi Technologies (NASDAQ:SOFI) Given New $25.00 Price Target at Needham & Company LLC

Key Points

• SoFi Technologies had its price target raised from $20.00 to $25.00 by Needham & Company LLC, indicating an expected 11.61% upside from the stock's previous close.
• The company's market capitalization is approximately $24.76 billion, with a PE ratio of 54.64 and a reported revenue of $519.37 million during the last quarter.
• Current consensus among analysts shows a rating of "Hold," with prices varying from a low of $12.00 to a high of $25.00 based on different reports.

SoFi Technologies (NASDAQ:SOFI - Free Report) had its price objective boosted by Needham & Company LLC from $20.00 to $25.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. JMP Securities reiterated a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. UBS Group upped 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. Truist Financial upped their price objective on SoFi Technologies from $14.00 to $20.00 and gave the stock a "hold" rating in a report on Thursday, July 17th. Cowen assumed coverage on SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating for the company. Finally, The Goldman Sachs Group assumed coverage on SoFi Technologies in a report on Monday, July 14th. They issued a "neutral" rating and a $19.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and a consensus target price of $17.28.

SoFi Technologies Price Performance

SoFi Technologies stock traded down $0.53 during midday trading on Wednesday, hitting $21.87. 182,062,953 shares of the company's stock were exchanged, compared to its average volume of 69,408,664. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $25.11. The stock has a 50-day moving average price of $17.24 and a two-hundred day moving average price of $14.77. 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 company has a market cap of $24.17 billion, a P/E ratio of 45.56, a PEG ratio of 3.60 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The business had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm's revenue was up 42.8% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was 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 owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 11,520 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at $2,722,950.42. The trade was a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,181 shares of company stock valued at $4,043,240 in the last 90 days. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CMG Global Holdings LLC raised its position in shares of SoFi Technologies by 77.8% in the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after acquiring an additional 61,443 shares in the last quarter. Nicholas Wealth LLC. bought a new position in shares of SoFi Technologies in the 1st quarter worth approximately $993,000. Geode Capital Management LLC raised its position in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after acquiring an additional 315,899 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth approximately $259,000. Finally, MFG Wealth Management Inc. raised its position in shares of SoFi Technologies by 27.7% in the 1st quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company's stock worth $1,818,000 after acquiring an additional 33,887 shares in the last quarter. Institutional investors 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.