SoFi Technologies (NASDAQ:SOFI) Earns “Underperform” Rating from Bank of America

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “underperform” rating restated by equities research analysts at Bank of America in a note issued to investors on Monday,Benzinga reports. They presently have a $12.00 target price on the stock. Bank of America‘s price target indicates a potential downside of 25.09% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Mizuho raised their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Barclays upped their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.50.

SoFi Technologies Stock Up 2.4 %

NASDAQ SOFI opened at $16.02 on Monday. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $16.61. The stock has a market cap of $17.38 billion, a PE ratio of 160.22, a PEG ratio of 2.66 and a beta of 1.77. The firm has a 50-day simple moving average of $12.04 and a 200 day simple moving average of $8.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. On average, research analysts forecast that SoFi Technologies will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,960,748 shares of company stock valued at $415,523,316. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SoFi Technologies

A number of large investors have recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its position in shares of SoFi Technologies by 6.5% during the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after buying an additional 1,336 shares during the period. Virtu Financial LLC acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $1,649,000. Coldstream Capital Management Inc. bought a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $93,000. Geode Capital Management LLC raised its holdings in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of SoFi Technologies by 5.4% in the third quarter. M&T Bank Corp now owns 45,582 shares of the company’s stock worth $359,000 after purchasing an additional 2,332 shares in the last quarter. 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.