SoFi Technologies (NASDAQ:SOFI) Receives Market Perform Rating from JMP Securities

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “market perform” rating reissued by equities researchers at JMP Securities in a research note issued to investors on Monday,Benzinga reports. They currently have a $17.00 target price on the stock. JMP Securities’ price objective points to a potential downside of 19.37% from the stock’s current price.

SOFI has been the subject of several other research reports. Stephens initiated coverage on SoFi Technologies in a report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 price objective for the company. The Goldman Sachs Group started coverage on shares of SoFi Technologies in a research note on Monday. They issued a “neutral” rating and a $19.00 price objective on the stock. TD Cowen initiated coverage on shares of SoFi Technologies in a research note on Friday. They set a “hold” rating and a $21.00 target price for the company. Citizens Jmp restated a “market perform” rating on shares of SoFi Technologies in a research report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $16.41.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI traded down $0.12 during trading on Monday, hitting $21.08. 22,843,088 shares of the company traded hands, compared to its average volume of 53,275,352. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $15.15 and its 200-day moving average is $14.17. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 3.57 and a beta of 1.91. SoFi Technologies has a one year low of $6.01 and a one year high of $21.86.

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

Insiders Place Their Bets

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director directly owned 289,258 shares in the company, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer owned 724,321 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 274,095 shares of company stock worth $3,939,168. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies during the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies during the 4th quarter worth $32,000. Hazlett Burt & Watson Inc. raised its holdings in shares of SoFi Technologies by 2,200.0% in the first 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 during the last quarter. Headlands Technologies LLC purchased a new stake in SoFi Technologies during the first quarter worth about $28,000. Finally, SVB Wealth LLC purchased a new stake in SoFi Technologies during the first quarter valued at about $28,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

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.