SoFi Technologies (NASDAQ:SOFI) Reaches New 12-Month High Following Analyst Upgrade

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $14.00 to $20.00. Truist Financial currently has a hold rating on the stock. SoFi Technologies traded as high as $22.02 and last traded at $21.77, with a volume of 12962438 shares changing hands. The stock had previously closed at $21.39.

Several other equities analysts have also commented on SOFI. TD Cowen assumed coverage on SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating and a $21.00 target price on the stock. JMP Securities reiterated a "market perform" rating and set a $17.00 target price on shares of SoFi Technologies in a research note on Monday. Citizens Jmp downgraded shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on shares of SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. Finally, Barclays raised their price objective on shares of SoFi Technologies from $12.00 to $18.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $16.78.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies 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 directly owned 724,321 shares in the company, valued at $11,263,191.55. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction 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 completion of the transaction, the director owned 289,258 shares of the company's stock, valued at $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. Insiders sold 274,095 shares of company stock worth $3,939,168 in the last ninety days. Insiders own 2.60% of the company's stock.

Institutional Trading of SoFi Technologies

Institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP purchased a new stake in SoFi Technologies during the 4th quarter worth $299,980,000. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new stake in SoFi Technologies during the fourth quarter worth about $103,678,000. Voloridge Investment Management LLC acquired a new stake in SoFi Technologies during the fourth quarter worth about $75,139,000. Finally, Nuveen LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at approximately $47,616,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 3.3%

The firm's 50 day simple moving average is $15.83 and its 200 day simple moving average is $14.35. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 53.88, a price-to-earnings-growth ratio of 3.58 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating 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 business's revenue was up 32.7% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.