SoFi Technologies (NASDAQ:SOFI) Given New $12.00 Price Target at Barclays

SoFi Technologies (NASDAQ:SOFI) had its target price lifted by Barclays from $11.00 to $12.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently weighed in on SOFI. The Goldman Sachs Group raised their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. UBS Group boosted their price target on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday. Citizens Jmp began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 price target for the company. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.38.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $12.70 on Wednesday. The company has a fifty day moving average of $11.99 and a 200-day moving average of $13.73. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $18.42. The firm has a market capitalization of $13.93 billion, a P/E ratio of 34.32, a P/E/G ratio of 2.24 and a beta of 1.86. 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 released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 earnings per share. As a group, sell-side analysts anticipate that SoFi Technologies will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,172 shares of company stock worth $1,271,115. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Elequin Capital LP increased its holdings in SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after buying an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after acquiring an additional 685 shares during the period. Procyon Advisors LLC boosted its position in SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after purchasing an additional 1,000 shares during the last quarter. Game Plan Financial Advisors LLC increased its position in shares of SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Bank of New Hampshire lifted its stake in shares of SoFi Technologies by 33.3% in the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock worth $47,000 after purchasing an additional 1,000 shares during the period. 38.43% of the stock is currently owned by institutional investors.

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.