SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $16.00 at JPMorgan Chase & Co.

SoFi Technologies (NASDAQ:SOFI) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $9.00 to $16.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 2.50% from the stock’s current price.

Other analysts have also issued reports about the stock. Barclays raised their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.36.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $16.41 on Monday. The business has a 50 day moving average of $11.23 and a 200 day moving average of $8.52. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $16.61. The company has a market cap of $17.81 billion, a PE ratio of 164.10, a P/E/G ratio of 2.73 and a beta of 1.60. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) EPS. As a group, equities research analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,287 shares of company stock worth $863,250 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP raised its position in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after buying an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the period. Mizuho Markets Americas LLC boosted its holdings in shares of SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after acquiring an additional 2,440,745 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $16,014,000. 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.