SoFi Technologies (NASDAQ:SOFI) Given New $9.00 Price Target at Barclays

SoFi Technologies (NASDAQ:SOFI) had its price target upped by stock analysts at Barclays from $8.00 to $9.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential downside of 21.26% from the stock’s previous close.

SOFI has been the topic of several other research reports. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods lowered their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.71.

SoFi Technologies Stock Up 9.2 %

NASDAQ SOFI traded up $0.96 during trading hours on Wednesday, hitting $11.43. 67,576,728 shares of the company traded hands, compared to its average volume of 46,763,930. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The business’s 50-day moving average is $8.45 and its 200-day moving average is $7.48. The stock has a market capitalization of $12.18 billion, a price-to-earnings ratio of 113.90, a P/E/G ratio of 2.08 and a beta of 1.70. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $11.46.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Sell-side analysts anticipate that SoFi Technologies will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock worth $904,677 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On SoFi Technologies

Several hedge funds have recently modified their holdings of SOFI. Diversified Trust Co boosted its holdings in shares of SoFi Technologies by 37.3% during the 1st quarter. Diversified Trust Co now owns 25,332 shares of the company’s stock valued at $185,000 after acquiring an additional 6,880 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of SoFi Technologies by 176.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after acquiring an additional 6,870,610 shares in the last quarter. Kovack Advisors Inc. boosted its holdings in shares of SoFi Technologies by 6.4% during the 1st quarter. Kovack Advisors Inc. now owns 125,315 shares of the company’s stock valued at $915,000 after acquiring an additional 7,502 shares in the last quarter. Marshall Financial Group LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter valued at $89,000. Finally, Kesler Norman & Wride LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter valued at $80,000. Institutional investors and hedge funds 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.