SoFi Technologies (NASDAQ:SOFI) Given New $7.00 Price Target at Keefe, Bruyette & Woods

SoFi Technologies (NASDAQ:SOFI) had its target price cut by Keefe, Bruyette & Woods from $7.50 to $7.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of SoFi Technologies from $12.00 to $11.00 and set a hold rating on the stock in a research note on Tuesday, April 30th. BTIG Research assumed coverage on SoFi Technologies in a report on Friday, June 7th. They issued a neutral rating for the company. Wedbush reiterated an underperform rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Needham & Company LLC restated a buy rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, July 2nd. Finally, Citigroup initiated coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a buy rating and a $11.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of Hold and a consensus target price of $9.29.

SoFi Technologies Stock Up 3.0 %

Shares of NASDAQ SOFI opened at $6.77 on Tuesday. The business has a 50-day moving average of $6.80 and a two-hundred day moving average of $7.53. The company has a market capitalization of $7.16 billion, a price-to-earnings ratio of -21.84, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. SoFi Technologies has a 1 year low of $6.15 and a 1 year high of $11.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, analysts forecast that SoFi Technologies will post 0.08 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto bought 28,775 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Noto bought 28,775 shares of the stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. Insiders bought a total of 88,390 shares of company stock worth $597,569 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in SoFi Technologies by 3.5% during the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after purchasing an additional 2,567,797 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of SoFi Technologies by 20.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock worth $28,398,000 after buying an additional 493,707 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after acquiring an additional 6,870,610 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in SoFi Technologies during the fourth quarter worth about $38,595,000. Finally, Level Four Advisory Services LLC lifted its holdings in shares of SoFi Technologies by 40.1% in the fourth quarter. Level Four Advisory Services LLC now owns 28,064 shares of the company’s stock valued at $279,000 after purchasing an additional 8,039 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.