The Goldman Sachs Group Begins Coverage on SoFi Technologies (NASDAQ:SOFI)

The Goldman Sachs Group began coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a report released on Monday. The brokerage issued a neutral rating and a $19.00 price target on the stock.

Several other research analysts have also recently commented on the company. Barclays raised their target price on SoFi Technologies from $12.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. UBS Group raised their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods raised their target price on SoFi Technologies from $9.00 to $13.00 and gave the stock an “underperform” rating in a research report on Thursday, July 10th. TD Cowen started coverage on SoFi Technologies in a research report on Friday. They issued a “hold” rating and a $21.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $16.41.

SoFi Technologies Stock Up 0.6%

SOFI opened at $21.33 on Monday. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $21.86. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 52.03, a P/E/G ratio of 3.57 and a beta of 1.91. The business has a 50 day moving average of $15.32 and a 200-day moving average of $14.21.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The company had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same period in the prior year, the business earned $0.02 earnings per share. SoFi Technologies’s revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer owned 724,321 shares of the company’s stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock worth $3,939,168 over the last three months. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Institutional investors have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $32,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of SoFi Technologies during the 1st quarter valued at about $28,000. Finally, SVB Wealth LLC bought a new position in shares of SoFi Technologies during the 1st quarter valued at about $28,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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.