SoFi Technologies (NASDAQ:SOFI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

SoFi Technologies (NASDAQ:SOFI) had its price objective hoisted by Needham & Company LLC from $10.00 to $13.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays dropped their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Finally, Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $11.04 on Wednesday. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $11.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The business has a fifty day moving average price of $8.67 and a 200-day moving average price of $7.56. The company has a market capitalization of $11.77 billion, a PE ratio of 110.41, a PEG ratio of 1.89 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.79% and a net margin of 8.38%. The firm had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. As a group, equities analysts expect that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SOFI. Diversified Trust Co raised its stake in shares of SoFi Technologies by 37.3% in the first quarter. Diversified Trust Co now owns 25,332 shares of the company’s stock worth $185,000 after buying an additional 6,880 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after buying an additional 6,870,610 shares during the period. Kovack Advisors Inc. raised its stake in shares of SoFi Technologies by 6.4% in the first quarter. Kovack Advisors Inc. now owns 125,315 shares of the company’s stock worth $915,000 after buying an additional 7,502 shares during the period. Marshall Financial Group LLC bought a new position in shares of SoFi Technologies in the first quarter worth about $89,000. Finally, Kesler Norman & Wride LLC bought a new position in shares of SoFi Technologies in the first quarter worth about $80,000. 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.