SoFi Technologies (NASDAQ:SOFI) PT Raised to $8.50 at Credit Suisse Group

SoFi Technologies (NASDAQ:SOFIGet Rating) had its target price hoisted by Credit Suisse Group from $8.00 to $8.50 in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently commented on SOFI. Wedbush dropped their price target on shares of SoFi Technologies from $20.00 to $15.00 in a research note on Thursday, April 7th. Oppenheimer lowered their price objective on shares of SoFi Technologies from $18.00 to $13.00 and set an outperform rating for the company in a research report on Thursday, April 7th. Mizuho lowered their price objective on shares of SoFi Technologies from $9.00 to $7.00 and set a buy rating for the company in a research report on Thursday, July 7th. Citigroup lowered their price objective on shares of SoFi Technologies from $17.00 to $11.00 in a research report on Thursday, May 12th. Finally, Bank of America lowered their price objective on shares of SoFi Technologies from $12.00 to $7.00 in a research report on Tuesday, May 10th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $13.73.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $7.96 on Wednesday. The company’s 50-day moving average price is $6.32 and its 200-day moving average price is $8.28. SoFi Technologies has a twelve month low of $4.82 and a twelve month high of $24.65. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.94. The company has a market cap of $7.29 billion, a PE ratio of -17.17 and a beta of 1.53.

SoFi Technologies (NASDAQ:SOFIGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). SoFi Technologies had a negative net margin of 27.19% and a negative return on equity of 7.53%. The firm had revenue of $321.70 million during the quarter, compared to analysts’ expectations of $283.99 million. The firm’s quarterly revenue was up 48.9% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies will post -0.44 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michelle Gill sold 50,000 shares of the business’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $5.48, for a total value of $274,000.00. Following the completion of the sale, the executive vice president now owns 1,831,223 shares in the company, valued at approximately $10,035,102.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Michelle Gill sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $5.48, for a total transaction of $274,000.00. Following the completion of the transaction, the executive vice president now owns 1,831,223 shares in the company, valued at approximately $10,035,102.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harvey M. Schwartz acquired 15,000 shares of SoFi Technologies stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average price of $6.50 per share, with a total value of $97,500.00. Following the purchase, the director now owns 229,852 shares in the company, valued at $1,494,038. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 257,753 shares of company stock worth $1,561,711. 13.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SOFI. Riverwood Capital Management Ltd. acquired a new position in SoFi Technologies during the 1st quarter valued at approximately $207,873,000. DCM International VI Ltd. acquired a new position in SoFi Technologies during the 4th quarter valued at approximately $185,092,000. State Street Corp increased its stake in SoFi Technologies by 222.0% during the 4th quarter. State Street Corp now owns 5,929,036 shares of the company’s stock valued at $93,738,000 after purchasing an additional 4,087,917 shares in the last quarter. Banco BTG Pactual S.A. acquired a new position in SoFi Technologies during the 1st quarter valued at approximately $18,467,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in SoFi Technologies by 2,626.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440,932 shares of the company’s stock valued at $13,616,000 after purchasing an additional 1,388,088 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows 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.

Further Reading

Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

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