Keefe, Bruyette & Woods Reiterates Underperform Rating for SoFi Technologies (NASDAQ:SOFI)

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “underperform” rating restated by equities research analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $8.00 price objective on the stock, up from their prior price objective of $7.00. Keefe, Bruyette & Woods’ price target suggests a potential downside of 48.05% from the company’s previous close.

Several other equities research analysts have also commented on SOFI. Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.13.

SoFi Technologies Trading Down 1.5 %

Shares of SOFI stock opened at $15.40 on Thursday. The stock has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $9.95. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $17.19. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 154.02, a PEG ratio of 2.70 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the firm posted ($0.03) earnings per share. The company’s revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts expect that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,009,264 shares of company stock worth $416,889,795. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies during the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC boosted its position in shares of SoFi Technologies by 55.3% during the 2nd 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 period. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies in the 3rd quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies in the third quarter valued at approximately $47,000. 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.