SoFi Technologies (NASDAQ:SOFI) Price Target Raised to $16.00

SoFi Technologies (NASDAQ:SOFI) had its price objective boosted by Mizuho from $14.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 14.86% from the stock’s current price.

A number of other brokerages have also recently commented on SOFI. Jefferies Financial Group lifted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.80.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $13.93 on Tuesday. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $14.44. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 139.31, a PEG ratio of 2.27 and a beta of 1.60. The business’s fifty day moving average is $9.84 and its 200 day moving average is $8.00. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. Research analysts expect that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. This represents a 17.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock valued at $904,677 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SOFI. Coldstream Capital Management Inc. acquired a new position in SoFi Technologies in the third quarter worth approximately $93,000. Geode Capital Management LLC boosted its stake in shares of SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after buying an additional 358,806 shares during the period. M&T Bank Corp boosted its stake in shares of SoFi Technologies by 5.4% during the 3rd quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock valued at $359,000 after buying an additional 2,332 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at $1,915,000. Finally, MML Investors Services LLC boosted its stake in shares of SoFi Technologies by 15.1% during the 3rd quarter. MML Investors Services LLC now owns 1,489,932 shares of the company’s stock valued at $11,711,000 after buying an additional 195,236 shares during the period. Institutional investors and hedge funds 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.