SoFi Technologies (NASDAQ:SOFI) Receives New $8.50 Price Target at Credit Suisse Group
Sofi Technologies (NASDAQ: SOFI – Get a rating) saw its target price raised by Credit Suisse Group from $8.00 to $8.50 in a research report released Wednesday morning, Marketbeat.com reports. They currently have a neutral rating on the title.
A number of other analysts have also recently commented on SOFI. Moffett Nathanson began coverage of SoFi Technologies in a research note on Tuesday, April 5. They issued a buy rating and price target of $13.00 for the company. Citigroup lowered its price target on SoFi Technologies from $17.00 to $11.00 in a Thursday, May 12 research note. Oppenheimer cut his price target on SoFi Technologies from $18.00 to $13.00 and set an outperform rating for the company in a Thursday, April 7 research report. Mizuho cut its price target on SoFi Technologies from $9.00 to $7.00 and set a Buy rating for the company in a research report on Thursday, July 7. Finally, Bank of America reduced its price target on SoFi Technologies from $12.00 to $7.00 in a Tuesday, May 10 research report. Five investment analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the stock has a moderate buy consensus rating and a consensus target price of $13.73.
SoFi Technologies share performance
Shares of NASDAQ: SOFI opened at $7.96 on Wednesday. The stock has a market capitalization of $7.29 billion, a P/E ratio of -17.30 and a beta of 1.53. SoFi Technologies has a 1-year low of $4.82 and a 1-year high of $24.65. The company has a current ratio of 5.60, a quick ratio of 5.60 and a debt ratio of 0.94. The company has a 50-day moving average price of $6.33 and a two-hundred-day moving average price of $8.25.
Sofi Technologies (NASDAQ: SOFI – Get a rating) last announced its quarterly results on Tuesday, May 10. The company reported ($0.14) EPS for the quarter, meeting analyst consensus estimates of ($0.14). The company posted revenue of $321.70 million in the quarter, compared to $283.99 million expected by analysts. SoFi Technologies has a negative return on equity of 7.53% and a negative net margin of 27.19%. The company’s revenue for the quarter increased 48.9% year over year. Equity analysts expect SoFi Technologies to post -0.45 earnings per share for the current year.
Insiders place their bets
In other news, CEO Antoine Noto bought 53,540 SoFi Technologies shares in a trade on Thursday, June 16. The shares were purchased at an average price of $5.58 per share, with a total value of $298,753.20. As a result of the transaction, the CEO now directly owns 3,567,041 shares of the company, valued at approximately $19,904,088.78. The acquisition was disclosed in a legal filing with the SEC, available at the SEC website. In related news, CEO Antoine Noto acquired 53,540 shares of the company in a transaction dated Thursday, June 16. The shares were purchased at an average price of $5.58 per share, for a total transaction of $298,753.20. Following the purchase, the CEO now directly owns 3,567,041 shares of the company, valued at approximately $19,904,088.78. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC website. Also, VPE Michelle Gil sold 50,000 shares of the company in a transaction that took place on Tuesday, June 14. The stock was sold at an average price of $5.48, for a total value of $274,000.00. Following the sale, the executive vice president now owns 1,831,223 shares of the company, valued at approximately $10,035,102.04. Disclosure of this sale can be found here. Insiders purchased a total of 257,753 shares of the company valued at $1,561,711 during the last quarter. 13.00% of the shares are currently held by insiders.
Institutional investors weigh in on SoFi Technologies
A number of institutional investors and hedge funds have recently changed their positions in SOFI. WASHINGTON TRUST Co acquired a new stake in SoFi Technologies in Q1 worth $26,000. NewSquare Capital LLC increased its stake in SoFi Technologies by 233.3% in the 2nd quarter. NewSquare Capital LLC now owns 5,000 shares of the company valued at $26,000 after acquiring an additional 3,500 shares during the period. TimeScale Financial Inc. increased its stake in SoFi Technologies by 75.1% in the 2nd quarter. TimeScale Financial Inc. now owns 5,380 shares of the company valued at $28,000 after acquiring 2,308 additional shares during the period. US Bancorp DE increased its stake in SoFi Technologies by 197.0% in the 1st quarter. US Bancorp DE now owns 3,015 shares of the company valued at $28,000 after acquiring an additional 2,000 shares during the period. Finally, Herold Advisors Inc. acquired a new stake in SoFi Technologies in the 1st quarter at a value of $29,000. Institutional investors hold 56.45% of the company’s shares.
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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