The Goldman Sachs Group Forecasts Strong Price Appreciation for SoFi Technologies (NASDAQ:SOFI) Stock

SoFi Technologies (NASDAQ:SOFI) had its target price hoisted by The Goldman Sachs Group from $7.50 to $8.50 in a report issued on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

SOFI has been the topic of a number of other research reports. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group lifted 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $9.32.

SoFi Technologies Trading Down 1.2 %

NASDAQ SOFI opened at $11.04 on Wednesday. SoFi Technologies has a one year low of $6.01 and a one year high of $11.50. The company’s 50 day moving average price is $8.67 and its 200 day moving average price is $7.56. 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 firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of 110.41, a PEG ratio of 1.89 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. On average, sell-side analysts predict that SoFi Technologies will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 over the last 90 days. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of hedge funds have recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies during the third quarter valued at $27,000. ORG Partners LLC acquired a new position in shares of SoFi Technologies during the first quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies during the third quarter valued at $39,000. Finally, GAMMA Investing LLC boosted its holdings in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the period. Institutional investors and hedge funds 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.