SoFi Technologies (NASDAQ:SOFI) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of SoFi Technologies (NASDAQ:SOFI) in a research note published on Tuesday morning, Benzinga reports. They currently have a $10.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft assumed coverage on SoFi Technologies in a research report on Wednesday, January 10th. They set a hold rating and a $11.00 price target for the company. Mizuho cut their price objective on SoFi Technologies from $15.00 to $12.00 and set a buy rating for the company in a report on Thursday, January 18th. Wedbush restated an underperform rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday. Morgan Stanley restated an underweight rating and issued a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Finally, Keefe, Bruyette & Woods upgraded SoFi Technologies from an underperform rating to a market perform rating and upped their price objective for the company from $6.50 to $7.50 in a report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has a consensus rating of Hold and a consensus price target of $9.08.

SoFi Technologies Trading Down 3.8 %

NASDAQ:SOFI opened at $6.78 on Tuesday. SoFi Technologies has a 12-month low of $4.45 and a 12-month high of $11.70. The firm has a market capitalization of $6.62 billion, a P/E ratio of -17.84 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The business has a 50 day simple moving average of $7.58 and a 200 day simple moving average of $7.87.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts predict that SoFi Technologies will post 0.08 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Several large investors have recently made changes to their positions in the stock. Wedmont Private Capital boosted its stake in shares of SoFi Technologies by 13.2% during the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock worth $120,000 after acquiring an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in SoFi Technologies by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company’s stock valued at $1,536,000 after purchasing an additional 1,413 shares during the period. CIBC Private Wealth Group LLC boosted its stake in SoFi Technologies by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after purchasing an additional 1,498 shares during the period. Westside Investment Management Inc. boosted its stake in SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the period. Finally, EP Wealth Advisors LLC boosted its stake in SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,508 shares during the period. Institutional investors own 38.43% of the company’s stock.

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.