SoFi Technologies, Inc. (NASDAQ:SOFI) Given Consensus Rating of “Hold” by Analysts

Shares of SoFi Technologies, Inc. (NASDAQ:SOFI) have earned a consensus rating of “Hold” from the nineteen research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.08.

A number of analysts recently issued reports on SOFI shares. Citigroup began coverage on SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Jefferies Financial Group dropped their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Wedbush reissued an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in SoFi Technologies during the fourth quarter worth approximately $27,000. Westside Investment Management Inc. lifted its holdings in SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares during the period. Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies in the 1st quarter valued at $37,000. Finally, Tortoise Investment Management LLC bought a new position in SoFi Technologies during the 4th quarter worth $39,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $7.87 on Monday. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. SoFi Technologies has a 12-month low of $4.45 and a 12-month high of $11.70. The firm has a fifty day moving average of $7.64 and a 200-day moving average of $7.89. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of -20.71 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The firm had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $572.02 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was up 34.7% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies will post 0.08 earnings per share for the current year.

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.