Analysts Set SoFi Technologies, Inc. (NASDAQ:SOFI) Price Target at $9.14

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have earned a consensus rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $9.14.

A number of equities research analysts have issued reports on SOFI shares. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods decreased their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. BTIG Research initiated coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Barclays reduced their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,328 shares of company stock valued at $808,246. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC bought a new position in SoFi Technologies in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares during the last quarter. GAMMA Investing LLC increased its stake in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in SoFi Technologies in the 1st quarter worth about $37,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 2.1 %

NASDAQ SOFI opened at $7.79 on Thursday. The stock’s 50-day moving average price is $7.39 and its 200-day moving average price is $7.17. The company has a market capitalization of $8.24 billion, a P/E ratio of -25.13, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. SoFi Technologies has a 52 week low of $6.01 and a 52 week high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, equities research analysts predict that SoFi Technologies will post 0.1 earnings per share for the current year.

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.