SoFi Technologies (NASDAQ:SOFI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

SoFi Technologies (NASDAQ:SOFIFree Report) had its price target raised by Needham & Company LLC from $13.00 to $20.00 in a research report sent to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on SOFI. Morgan Stanley raised 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 raised 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. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.50.

View Our Latest Analysis on SOFI

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $16.44 on Tuesday. SoFi Technologies has a 12 month low of $6.01 and a 12 month high of $18.42. The firm has a market capitalization of $17.84 billion, a price-to-earnings ratio of 164.42, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The business’s 50 day simple moving average is $15.84 and its 200-day simple moving average is $11.28. 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:SOFIGet Free Report) last announced its quarterly earnings results on Monday, January 27th. 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%. During the same period in the prior year, the firm earned $0.04 EPS. As a group, equities analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the business’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 value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently made changes to their positions in SOFI. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies during the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new position in SoFi Technologies in the 3rd quarter valued at about $28,000. FNY Investment Advisers LLC grew its stake in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the third quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies during the third quarter worth about $47,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

(Get Free Report)

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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Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

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