Shares of SoFi Technologies, Inc. (NASDAQ: SOFI – Get a rating) have been assigned an average rating of “moderate buy” by the thirteen rating agencies that currently cover the company, MarketBeat reports. Three research analysts rated the stock with a hold rating and six gave the company a buy rating. The average 1-year price target among brokerages that have reported on the stock in the past year is $13.73.
A number of brokerages have recently released reports on SOFI. Moffett Nathanson began covering SoFi Technologies shares in a research report on Tuesday, April 5. They issued a “buy” rating and a price target of $13.00 on the stock. Wedbush cut its price target on SoFi Technologies shares from $20.00 to $15.00 in a Thursday, April 7 research report. Piper Sandler lowered its price target on SoFi Technologies shares from $10.00 to $8.00 and set an “overweight” rating on the stock in a Wednesday, June 29 research report. Oppenheimer lowered his price target on SoFi Technologies shares from $18.00 to $13.00 and set an “outperform” rating on the stock in a Thursday, April 7 research report. Finally, Bank of America lowered its price target on SoFi Technologies shares from $12.00 to $7.00 in a Tuesday, May 10 research report.
In other SoFi Technologies, CEO news Antoine Noto acquired 53,540 shares of the company in a transaction dated Thursday, June 16. The shares were acquired at an average cost of $5.58 per share, with a total value of $298,753.20. Following the acquisition, the CEO now directly owns 3,567,041 shares of the company, valued at $19,904,088.78. The purchase was disclosed in a document filed with the SEC, accessible via the SEC website. In other SoFi Technologies news, Director Harvey M. Schwartz purchased 15,000 shares of SoFi Technologies in a trade dated Friday, May 13. The shares were acquired at an average cost of $6.50 per share, for a total transaction of $97,500.00. Following completion of the transaction, the administrator now directly owns 229,852 shares of the company, valued at $1,494,038. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Also, CEO Antoine Noto purchased 53,540 SoFi Technologies shares in a trade dated Thursday, June 16. The shares were acquired at an average price of $5.58 per share, with a total value of $298,753.20. Following completion of the transaction, the CEO now directly owns 3,567,041 shares of the company, valued at $19,904,088.78. Disclosure of this purchase can be found here. Insiders acquired 257,753 shares of the company valued at $1,561,711 over the past ninety days. Insiders hold 13.00% of the shares of the company.
Institutional investors weigh in on SoFi Technologies
A number of hedge funds have recently changed their SOFI holdings. PSI Advisors LLC increased its stake in SoFi Technologies by 674.7% in the second quarter. PSI Advisors LLC now owns 6,585 shares of the company valued at $34,000 after acquiring an additional 5,735 shares in the last quarter. Connective Portfolio Management LLC bought a new stock position in SoFi Technologies during the second quarter worth approximately $264,000. Harbor Investment Advisory LLC purchased a new stock position in SoFi Technologies during the second quarter for a value of approximately $124,000. Moseley Investment Management Inc. increased its position in SoFi Technologies shares by 14.4% during the second quarter. Moseley Investment Management Inc. now owns 38,083 shares of the company worth $201,000 after acquiring 4,799 additional shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its position in SoFi Technologies by 108.7% in the 2nd quarter. Wolff Wiese Magana LLC now owns 120,715 shares of the company valued at $636,000 after purchasing an additional 62,876 shares in the last quarter. Hedge funds and other institutional investors hold 56.45% of the company’s shares.
SoFi Technologies trades up 1.0%
NASDAQ: SOFI opened at $6.35 on Tuesday. The company has a 50-day simple moving average of $6.31 and a 200-day simple moving average of $8.86. The company has a debt ratio of 0.94, a quick ratio of 5.60 and a current ratio of 5.60. SoFi Technologies has a 1-year low of $4.82 and a 1-year high of $24.65. The company has a market capitalization of $5.82 billion, a P/E ratio of -7.74 and a beta of 1.39.
SoFi Technologies (NASDAQ: SOFI – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.14). SoFi Technologies has a negative net margin of 36.32% and a negative return on equity of 9.24%. The company posted revenue of $321.70 million for the quarter, versus a consensus estimate of $283.99 million. The company’s revenue increased 48.9% year over year. Equity analysts expect SoFi Technologies to post -0.45 EPS for the current fiscal year.
SoFi Technologies Company Profile
SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow 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.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in SoFi Technologies right now?
Before you consider SoFi Technologies, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and SoFi Technologies didn’t make the list.
While SoFi Technologies currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here