Sofi Technologies (NASDAQ: SOFI – Get a rating) had its price target reduced by Oppenheimer from $18.00 to $13.00 in a research note released to investors on Thursday, Fly reports. They currently have an outperform rating on the stock.
A number of other brokerages also commented on SOFI. Wedbush began covering SoFi Technologies in a report on Tuesday, January 18. They set an outperform rating and a price target of $20.00 for the company. Goldman Sachs Group took over coverage from SoFi Technologies in a research note on Tuesday, January 18. They set a neutral rating and a price target of $16.00 on the stock. Bank of America downgraded SoFi Technologies shares from a buy rating to a neutral rating and set a target price of $14.00 for the company. in a research note from Wednesday, March 2. Piper Sandler launched a hedge on SoFi Technologies stocks in a research report on Monday, March 7. They set a neutral rating and a price target of $12.00 on the stock. Finally, Citigroup began covering SoFi Technologies stocks in a research report on Monday, December 20. They issued a buy rating and a price target of $20.00 for the company. Seven equity research analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat, the company currently has an average buy rating and a consensus target price of $15.88.
Shares of NASDAQ: SOFI opened at $7.87 on Thursday. SoFi Technologies has a 52-week low of $7.64 and a 52-week high of $24.95. The company’s 50-day simple moving average is $10.36 and its two-hundred-day simple moving average is $14.73. The company has a current ratio of 22.93, a quick ratio of 22.93 and a debt ratio of 0.90.
Sofi Technologies (NASDAQ: SOFI – Get a rating) last released its quarterly results on Tuesday, March 1. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company posted revenue of $279.88 million in the quarter, versus analyst estimates of $279.47 million. The company’s revenue for the quarter increased by 53.8% compared to the same quarter last year. During the same period of the previous year, the company posted an EPS of ($1.85). On average, research analysts expect SoFi Technologies to post -0.4 earnings per share for the current fiscal year.
Separately, director Ahmed Ali Al-Hammadi purchased 10,000 shares of the company in a transaction dated Wednesday, March 16. The shares were purchased at an average price of $8.40 per share, with a total value of $84,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, insider Micah Heavener sold 2,000 shares of SoFi Technologies in a trade on Thursday, January 20. The shares were sold at an average price of $15.00, for a total value of $30,000.00. Disclosure of this sale can be found here. Insiders acquired a total of 97,640 shares of the company valued at $871,799 over the past ninety days. Insiders hold 35.10% of the shares of the company.
Hedge funds and other institutional investors have recently changed their holdings in the company. BlackRock Inc. increased its position in SoFi Technologies by 47,019.8% during the third quarter. BlackRock Inc. now owns 13,624,205 shares of the company valued at $216,352,000 after purchasing an additional 13,595,291 shares in the last quarter. DCM International VI Ltd. bought a new stock position in SoFi Technologies during Q4, valued at approximately $185,092,000. Geode Capital Management LLC increased its position in SoFi Technologies by 792.3% in the 3rd quarter. Geode Capital Management LLC now owns 5,384,680 shares of the company worth $85,508,000 after purchasing an additional 4,781,208 shares in the last quarter. State Street Corp increased its position in SoFi Technologies by 222.0% during the fourth quarter. State Street Corp now owns 5,929,036 shares of the company valued at $93,738,000 after acquiring 4,087,917 additional shares in the last quarter. Finally, Deutsche Bank AG increased its stake in SoFi Technologies shares by 2,060.4% during the fourth quarter. Deutsche Bank AG now owns 2,751,376 shares of the company worth $43,500,000 after acquiring an additional 2,624,020 shares last quarter. 50.03% of the shares are held by institutional investors.
SoFi Technologies Company Profile (Get a rating)
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.
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