SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus “Buy Moderate” Recommendation From Brokerages
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.
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