UBS Group Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI - Get Free Report) had its price target hoisted by equities research analysts at UBS Group from $14.00 to $15.50 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price suggests a potential upside of 24.45% from the company's current price.

Several other research analysts also recently commented on SOFI. Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday. JMP Securities started coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective for the company. Citigroup boosted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods reissued an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $13.20.

SoFi Technologies Stock Performance

NASDAQ SOFI traded down $0.82 during trading on Wednesday, hitting $12.46. 33,295,083 shares of the company's stock traded hands, compared to its average volume of 46,665,744. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 2.24 and a beta of 1.86. SoFi Technologies has a 12-month low of $6.01 and a 12-month high of $18.42. The business has a 50 day moving average of $12.09 and a 200-day moving average of $13.70.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. SoFi Technologies's revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. As a group, equities research analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $10.71, for a total value of $119,748.51. Following the completion of the sale, the executive vice president now owns 215,029 shares in the company, valued at $2,302,960.59. The trade was a 4.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,172 shares of company stock valued at $1,271,115 over the last three months. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On SoFi Technologies

Hedge funds have recently added to or reduced their stakes in the company. Elequin Capital LP grew its position in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after buying an additional 685 shares during the last quarter. Procyon Advisors LLC lifted its holdings in shares of SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock worth $208,000 after buying an additional 1,000 shares in the last quarter. Game Plan Financial Advisors LLC boosted its position in shares of SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Bank of New Hampshire grew its stake in SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock valued at $47,000 after acquiring an additional 1,000 shares in the last quarter. 38.43% of the stock is currently 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.

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