Shares of SoFi Technologies, Inc. (NASDAQ: SOFI – Get a rating) have been given an average rating of “Hold” by the fourteen brokerages that currently cover the company, MarketBeat.com reports. One analyst rated the stock with a sell recommendation, three assigned a hold recommendation and five gave the company a buy recommendation. The 12-month average price target among brokers who have covered the stock over the past year is $14.04.
Several research analysts have recently commented on the company. Bank of America lowered its price target on SoFi Technologies from $12.00 to $7.00 in a Tuesday, May 10 research report. Mizuho lowered its price target on SoFi Technologies from $14.00 to $9.00 and gave the company an “na” rating in a Tuesday, May 17 research report. Oppenheimer lowered his price target on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating for the company in a Thursday, April 7 research report. Credit Suisse Group lowered its price target on SoFi Technologies from $15.50 to $9.50 in a Wednesday May 11 research report. To finish, Zacks Investment Research downgraded SoFi Technologies from a “hold” rating to a “sell” rating in a Wednesday, May 4 research report.
Shares of SoFi Technologies Stock opened at $7.55 on Monday. The company has a market capitalization of $6.26 billion, a price-earnings ratio of -9.21 and a beta of 0.90. The company has a 50-day moving average price of $7.53 and a 200-day moving average price of $11.59. The company has a quick ratio of 5.60, a current ratio of 5.60 and a leverage ratio of 0.94. SoFi Technologies has a 12-month low of $4.82 and a 12-month high of $24.95.
Sofi Technologies (NASDAQ: SOFI – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The company posted revenue of $321.70 million in the quarter, versus analyst estimates of $283.99 million. SoFi Technologies posted a negative return on equity of 9.24% and a negative net margin of 36.32%. The company’s quarterly revenue increased 48.9% year over year. On average, equity analysts expect SoFi Technologies to post -0.45 EPS for the current fiscal year.
In related news, Insider Micah Heavener bought 5,000 shares of the company in a transaction dated Monday, March 14. The shares were purchased at an average price of $7.99 per share, with a total value of $39,950.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, director Ahmed Ali Al Hammadi purchased 10,000 shares of the company in a trade dated Wednesday, March 16. The shares were purchased at an average cost of $8.40 per share, with a total value of $84,000.00. Disclosure of this purchase can be found here. Insiders have purchased 163,196 shares of the company valued at $1,323,480 over the past ninety days. Insiders hold 35.10% of the shares of the company.
A number of large investors have recently changed their stock holdings. BlackRock Inc. increased its stake in SoFi Technologies by 63.4% in the fourth quarter. BlackRock Inc. now owns 22,261,616 shares of the company worth $351,956,000 after purchasing an additional 8,637,411 shares in the last quarter. Riverwood Capital Management Ltd. bought a new position in SoFi Technologies in the first quarter for a value of approximately $207,873,000. DCM International VI Ltd. bought a new position in SoFi Technologies in the fourth quarter for a value of approximately $185,092,000. State Street Corp increased its stake in SoFi Technologies by 11.6% in the first quarter. State Street Corp now owns 6,618,860 shares of the company worth $62,548,000 after purchasing an additional 689,824 shares last quarter. Finally, Geode Capital Management LLC increased its stake in SoFi Technologies by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 6,031,801 shares of the company worth $95,207,000 after purchasing an additional 647,121 shares in the last quarter. 56.45% of the shares are held by institutional investors.
About SoFi Technologies (Get a rating)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow its members to borrow, save, spend, invest and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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