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

SoFi Technologies (NASDAQ:SOFI) had its price target lifted by equities research analysts at Needham & Company LLC from $13.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 24.38% from the company’s previous close.

A number of other brokerages have also recently commented on SOFI. Bank of America reissued an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Jefferies Financial Group upped their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.29.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $16.08 on Tuesday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. 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 $17.45 billion, a price-to-earnings ratio of 160.82, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The firm has a 50 day moving average of $15.75 and a 200 day moving average of $11.15.

SoFi Technologies (NASDAQ:SOFI) last released 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 return on equity of 3.71% and a net margin of 8.38%. During the same quarter last year, the firm earned $0.04 earnings per share. On average, research analysts anticipate that SoFi Technologies will post 0.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock worth $416,950,073 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.