SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $20.00 at Truist Financial

SoFi Technologies (NASDAQ:SOFI - Free Report) had its price target lifted by Truist Financial from $14.00 to $20.00 in a research note released on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms have also commented on SOFI. Stephens began coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. The Goldman Sachs Group initiated coverage on SoFi Technologies in a research note on Monday. They set a "neutral" rating and a $19.00 price target on the stock. Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday. Cowen initiated coverage on SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating on the stock. Finally, JMP Securities restated a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research note on Monday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average price target of $16.78.

SoFi Technologies Stock Down 1.3%

Shares of NASDAQ:SOFI traded down $0.28 on Thursday, reaching $21.81. The company had a trading volume of 59,571,389 shares, compared to its average volume of 53,398,774. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $22.71. The stock has a 50-day moving average price of $15.83 and a 200 day moving average price of $14.35. The stock has a market capitalization of $24.11 billion, a P/E ratio of 53.20, a P/E/G ratio of 3.58 and a beta of 1.91. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm's revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. On average, equities analysts expect that SoFi Technologies will post 0.26 EPS for the current year.

Insider Activity

In other news, EVP Kelli Keough sold 10,267 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.22, for a total value of $156,263.74. Following the sale, the executive vice president directly owned 255,467 shares in the company, valued at approximately $3,888,207.74. This represents a 3.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the company's 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 completion of the sale, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,095 shares of company stock worth $3,939,168. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Elequin Capital LP boosted its holdings in shares of SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after acquiring an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after acquiring an additional 685 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of SoFi Technologies by 4.3% in the 2nd quarter. Wedmont Private Capital now owns 21,493 shares of the company's stock worth $435,000 after acquiring an additional 879 shares in the last quarter. Bank of New Hampshire boosted its holdings in shares of SoFi Technologies by 33.3% in the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in shares of SoFi Technologies by 16.7% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock worth $81,000 after acquiring an additional 1,000 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

About SoFi Technologies

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.