SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Average Recommendation of "Moderate Buy" from Brokerages – MarketBeat

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SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.04.
SOFI has been the topic of a number of recent analyst reports. Morgan Stanley downgraded SoFi Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $18.00 to $10.00 in a research report on Wednesday, March 16th. Mizuho cut their target price on SoFi Technologies from $14.00 to $9.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Moffett Nathanson initiated coverage on SoFi Technologies in a research note on Tuesday, April 5th. They issued a “buy” rating and a $13.00 target price on the stock. Credit Suisse Group cut their price objective on SoFi Technologies from $15.50 to $9.50 in a research report on Wednesday, May 11th. Finally, Wedbush decreased their price objective on shares of SoFi Technologies from $20.00 to $15.00 in a report on Thursday, April 7th.
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In other news, CEO Anthony Noto acquired 37,056 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, May 24th. The shares were bought at an average cost of $6.72 per share, with a total value of $249,016.32. Following the transaction, the chief executive officer now directly owns 3,276,895 shares of the company’s stock, valued at approximately $22,020,734.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harvey M. Schwartz acquired 15,000 shares of SoFi Technologies stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $6.50 per share, for a total transaction of $97,500.00. Following the completion of the transaction, the director now directly owns 229,852 shares in the company, valued at $1,494,038. The disclosure for this purchase can be found here. Insiders have bought a total of 257,753 shares of company stock worth $1,561,711 over the last 90 days. Corporate insiders own 13.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC increased its position in shares of SoFi Technologies by 119.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock worth $31,000 after acquiring an additional 1,075 shares during the period. Amplius Wealth Advisors LLC purchased a new position in shares of SoFi Technologies during the fourth quarter worth approximately $31,000. TimeScale Financial Inc. increased its position in shares of SoFi Technologies by 81.5% during the fourth quarter. TimeScale Financial Inc. now owns 2,319 shares of the company’s stock worth $37,000 after acquiring an additional 1,041 shares during the period. AdvisorNet Financial Inc increased its position in shares of SoFi Technologies by 163.3% during the fourth quarter. AdvisorNet Financial Inc now owns 2,370 shares of the company’s stock worth $37,000 after acquiring an additional 1,470 shares during the period. Finally, WASHINGTON TRUST Co bought a new position in shares of SoFi Technologies during the first quarter valued at approximately $26,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of SoFi Technologies stock opened at $5.78 on Friday. The company has a market cap of $5.29 billion, a PE ratio of -7.05 and a beta of 0.84. SoFi Technologies has a 52 week low of $4.82 and a 52 week high of $24.65. The business has a 50 day moving average price of $6.56 and a 200-day moving average price of $10.04. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.94.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. The company had revenue of $321.70 million during the quarter, compared to the consensus estimate of $283.99 million. SoFi Technologies’s revenue was up 48.9% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies will post -0.45 EPS for the current year.
About SoFi Technologies (Get Rating)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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