Shares of SoFi Technologies, Inc. (NASDAQ: SOFI – Get Rating) have been given an average rating of “Hold” by the fourteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $ 14.04.
Several research analysts recently commented on the company. Bank of America dropped their price target on SoFi Technologies from $ 12.00 to $ 7.00 in a research report on Tuesday, May 10th. Mizuho dropped their price target on SoFi Technologies from $ 14.00 to $ 9.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Oppenheimer dropped their price target on SoFi Technologies from $ 18.00 to $ 13.00 and set an “outperform” rating for the company in a research report on Thursday, April 7th. Credit Suisse Group dropped their target price on SoFi Technologies from $ 15.50 to $ 9.50 in a research report on Wednesday, May 11th. Finally, Zacks Investment Research lowered SoFi Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th.
Shares of SoFi Technologies stock opened at $ 7.55 on Monday. The firm has a market cap of $ 6.26 billion, a price-to-earnings ratio of -9.21 and a beta of 0.90. The business has a 50-day moving average price of $ 7.53 and a 200-day moving average price of $ 11.59. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.94. SoFi Technologies has a twelve month low of $ 4.82 and a twelve month high of $ 24.95.
SoFi Technologies (NASDAQ: SOFI – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($ 0.14) EPS for the quarter, hitting the consensus estimate of ($ 0.14). The company had revenue of $ 321.70 million during the quarter, compared to analyst estimates of $ 283.99 million. SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. The company’s quarterly revenue was up 48.9% on a year-over-year basis. On average, equities analysts expect that SoFi Technologies will post -0.45 EPS for the current fiscal year.
In related news, insider Micah Heavener purchased 5,000 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was purchased at an average price of $ 7.99 per share, with a total value of $ 39,950.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ahmed Ali Al-Hammadi purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were bought at an average cost of $ 8.40 per share, with a total value of $ 84,000.00. The disclosure for this purchase can be found here. Insiders have bought 163,196 shares of company stock valued at $ 1,323,480 in the last ninety days. Insiders own 35.10% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in SoFi Technologies by 63.4% in the fourth quarter. BlackRock Inc. now owns 22,261,616 shares of the company’s stock worth $ 351,956,000 after buying an additional 8,637,411 shares in the last quarter. Riverwood Capital Management Ltd. bought a new position in SoFi Technologies in the first quarter worth approximately $ 207,873,000. DCM International VI Ltd. bought a new position in SoFi Technologies in the fourth quarter worth approximately $ 185,092,000. State Street Corp raised its stake in SoFi Technologies by 11.6% in the first quarter. State Street Corp now owns 6,618,860 shares of the company’s stock worth $ 62,548,000 after buying an additional 689,824 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in SoFi Technologies by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 6,031,801 shares of the company’s stock worth $ 95,207,000 after buying an additional 647,121 shares in the last quarter. 56.45% of the stock is owned by institutional investors.
About SoFi Technologies (Get Rating)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company’s lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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