Shares of $SoFi Technologies Inc.(SOFI)$ have been given an average rating of “Hold” by the fourteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $14.04.
Several research analysts recently commented on the company. Bank of America dropped their price target on SoFi Technologies from $12.00 to $7.00 in a research report on Tuesday, May 10th. Mizuho dropped their price target on SoFi Technologies from $14.00 to $9.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Oppenheimer dropped their price target on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating for the company in a research report on Thursday, April 7th. Credit Suisse Group dropped their target price on SoFi Technologies from $15.50 to $9.50 in a research report on Wednesday, May 11th. Finally,Zacks Investment Researchlowered SoFi Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th.The firm has a market cap of $6.26 billion, a price-to-earnings ratio of -9.21 and a beta of 0.90. The business has a 50-day moving average price of $7.53 and a 200-day moving average price of $11.59. The company has a quick ratio of 5.60, a current ratio of 5.60 and a debt-to-equity ratio of 0.94. SoFi Technologies has a twelve month low of $4.82 and a twelve month high of $24.95.
SoFi last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $321.70 million during the quarter, compared to analyst estimates of $283.99 million. SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. The company’s quarterly revenue was up 48.9% on a year-over-year basis. On average, equities analysts expect that SoFi Technologies will post -0.45 EPS for the current fiscal year.
In related news, insiderMicah Heavenerpurchased 5,000 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was purchased at an average price of $7.99 per share, with a total value of $39,950.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible throughthis link. Also, DirectorAhmed Ali Al-Hammadipurchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were bought at an average cost of $8.40 per share, with a total value of $84,000.00. The disclosure for this purchase can be foundhere. Insiders have bought 163,196 shares of company stock valued at $1,323,480 in the last ninety days. Insiders own 35.10% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in SoFi Technologies by 63.4% in the fourth quarter. BlackRock Inc. now owns 22,261,616 shares of the company’s stock worth $351,956,000 after buying an additional 8,637,411 shares in the last quarter. Riverwood Capital Management Ltd. bought a new position in SoFi Technologies in the first quarter worth approximately $207,873,000. DCM International VI Ltd. bought a new position in SoFi Technologies in the fourth quarter worth approximately $185,092,000. State Street Corp raised its stake in SoFi Technologies by 11.6% in the first quarter. State Street Corp now owns 6,618,860 shares of the company’s stock worth $62,548,000 after buying an additional 689,824 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in SoFi Technologies by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 6,031,801 shares of the company’s stock worth $95,207,000 after buying an additional 647,121 shares in the last quarter. 56.45% of the stock is owned by institutional investors.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows 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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