SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus Recommendation of “Hold” from Brokerages

SoFi Technologies, Inc. (NASDAQ:SOFI) has earned a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $16.78.

SOFI has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. UBS Group boosted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a research report on Monday, July 14th. They set a “neutral” rating and a $19.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on shares of SoFi Technologies from $9.00 to $13.00 and gave the stock an “underperform” rating in a research report on Thursday, July 10th. Finally, TD Cowen initiated coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They issued a “hold” rating and a $21.00 price objective for the company.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $22.40 on Wednesday. The firm’s 50-day moving average price is $17.06 and its 200-day moving average price is $14.72. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $25.11. The firm has a market capitalization of $24.76 billion, a P/E ratio of 54.64, a P/E/G ratio of 3.55 and a beta of 1.91. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm’s revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. Equities research analysts anticipate that SoFi Technologies will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,181 shares of company stock worth $4,043,240 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Trading of SoFi Technologies

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after buying an additional 1,130,250 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at approximately $299,980,000. Geode Capital Management LLC lifted its stake in shares of SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock valued at $276,288,000 after buying an additional 315,899 shares in the last quarter. Norges Bank purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at approximately $103,678,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of SoFi Technologies by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company’s stock valued at $75,278,000 after buying an additional 159,109 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

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.