SoFi Technologies (NASDAQ:SOFI) PT Lowered to $8.00

SoFi Technologies (NASDAQ:SOFIGet Free Report) had its price target cut by equities research analysts at Barclays from $10.00 to $8.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 21.77% from the company’s current price.

SOFI has been the subject of a number of other research reports. Jefferies Financial Group dropped their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods dropped their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, July 2nd. Citigroup began coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Finally, Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.29.

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SoFi Technologies Trading Up 3.0 %

Shares of SOFI opened at $6.57 on Tuesday. The stock has a fifty day moving average price of $6.80 and a two-hundred day moving average price of $7.53. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. SoFi Technologies has a 52-week low of $6.15 and a 52-week high of $11.70. The company has a market cap of $6.95 billion, a price-to-earnings ratio of -21.19, a PEG ratio of 1.48 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. Analysts predict that SoFi Technologies will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $6.92 per share, with a total value of $199,988.00. Following the completion of the purchase, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Noto acquired 28,900 shares of SoFi Technologies stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $6.92 per share, with a total value of $199,988.00. Following the completion of the transaction, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 88,390 shares of company stock valued at $597,569. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in SoFi Technologies during the fourth quarter worth about $27,000. Westside Investment Management Inc. raised its holdings in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares in the last quarter. ORG Partners LLC bought a new stake in SoFi Technologies during the first quarter worth about $27,000. Tortoise Investment Management LLC bought a new stake in SoFi Technologies during the fourth quarter worth about $39,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in SoFi Technologies during the fourth quarter worth about $40,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.

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