Shares of SoFi Technologies, Inc. (NASDAQ: SOFI) received an average “Buy” recommendation from the nine research companies that currently cover the company, MarketBeat reports. Three research analysts rated the stock with a keep recommendation and six gave the company a buy recommendation. The 12-month average target price among brokers who hedged the stock in the past year is $ 24.25.
A number of research analysts have recently published reports on SOFI stocks. Morgan Stanley lowered its price target on SoFi Technologies shares from $ 24.00 to $ 22.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group raised its price target for SoFi Technologies stock from $ 24.00 to $ 26.00 and gave the stock a “buy” rating in a research report on Friday, November 12. Mizuho raised his price target for SoFi Technologies stock from $ 28.00 to $ 30.00 and gave the stock a “buy” rating in a research report on Monday, November 15. Citigroup began covering shares of SoFi Technologies in a research report on Monday, December 20. They issued a “buy” note and a target price of $ 20.00 on the stock. Finally, Oppenheimer raised its price target for SoFi Technologies shares from $ 23.00 to $ 28.00 and gave the stock an “outperformance” rating in a research report on Thursday, November 11.
Separately, director George Thompson Hutton sold 103,462 shares of SoFi Technologies in a transaction dated Monday, November 29. The shares were sold for an average price of $ 18.52, for a total value of $ 1,916,116.24. The sale was disclosed in a filing with the SEC, accessible through this link. Additionally, Director Iv (Gp) LLC Slta sold 7,361,378 shares of the company in a transaction dated Thursday, November 18. The stock was sold for an average price of $ 21.60, for a total trade of $ 159,05,764.80. Disclosure of this sale can be found here. During the last quarter, insiders sold 17,541,508 shares of the company valued at $ 378,577,910. 35.10% of the shares are currently held by insiders.
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. Mine & Arao Wealth Creation & Management LLC. acquired a new equity stake in SoFi Technologies during the 2nd quarter valued at $ 27,000. Herold Advisors Inc. acquired a new equity interest in SoFi Technologies during the 3rd quarter valued at $ 31,000. Patriot Financial Group Insurance Agency LLC increased its position in SoFi Technologies shares by 119.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company valued at $ 31,000 after acquiring 1,075 additional shares in the last quarter. Clearstead Advisors LLC increased its position in SoFi Technologies shares by 250.0% during the 3rd quarter. Clearstead Advisors LLC now owns 2,240 shares of the company valued at $ 36,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Wagner Wealth Management LLC acquired a new equity stake in SoFi Technologies during the 2nd quarter for a value of $ 38,000. Hedge funds and other institutional investors hold 46.82% of the company’s shares.
NASDAQ SOFI opened at $ 15.95 on Friday. SoFi Technologies has a 12-month low of $ 11.80 and a 12-month high of $ 28.26. The company has a current ratio of 17.58, a rapid ratio of 17.57 and a debt ratio of 0.65. The company’s fifty-day moving average price is $ 18.32 and its two hundred-day moving average price is $ 17.36.
SoFi Technologies (NASDAQ: SOFI) last released its quarterly earnings data on Wednesday, November 10. The company reported ($ 0.05) EPS for the quarter, beating Zacks’ consensus estimate ($ 0.14) by $ 0.09. The company posted revenue of $ 277.19 million for the quarter, compared to a consensus estimate of $ 263.16 million. Analysts predict SoFi Technologies will post -1.89 EPS for the current year.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. The company operates in three segments to present: lending, financial services and technology platform. Its financial services allow its members to borrow, save, spend, invest and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
Featured Article: Market Performance
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in SoFi Technologies now?
Before you consider SoFi Technologies, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and SoFi Technologies was not on the list.
While SoFi Technologies currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here