Barclays Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI) had its price objective hoisted by Barclays from $8.00 to $9.00 in a research note released on Wednesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on SOFI. Needham & Company LLC lifted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $9.32.

SoFi Technologies Trading Down 1.2 %

NASDAQ:SOFI opened at $11.04 on Wednesday. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $11.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The stock has a fifty day moving average price of $8.67 and a two-hundred day moving average price of $7.56. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 110.41, a PEG ratio of 1.88 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other SoFi Technologies news, 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 value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,636 shares of company stock worth $904,677. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SOFI. Benjamin F. Edwards & Company Inc. increased its position in SoFi Technologies by 4,252.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares during the last quarter. Mark Asset Management LP increased its holdings in shares of SoFi Technologies by 79.9% during the 2nd quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after buying an additional 151,265 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of SoFi Technologies by 64.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after buying an additional 115,316 shares during the period. Texas Capital Bank Wealth Management Services Inc boosted its holdings in SoFi Technologies by 233.3% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock valued at $661,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in SoFi Technologies by 7.4% during the third quarter. Diversify Advisory Services LLC now owns 813,589 shares of the company’s stock valued at $6,395,000 after acquiring an additional 56,245 shares during the period. 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.