Brokerages Set Price Target for SoFi Technologies, Inc. (NASDAQ:SOFI) at $9.14

VaselineSeptember 4, 2024

0 4 minutes read

SoFi Technologies, Inc. (NASDAQ:SOFI – Get Free Report ) has been assigned an average rating of “Hold” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.14.

A number of research firms recently weighed in on SOFI. Barclays dropped their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. BTIG Research began coverage on shares of SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st.

See our latest report on SOFI

Insider activity at SoFi Technologies

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In other SoFi Technologies news, CEO Anthony Noto bought 30,715 shares of the stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $6.48 per share, with a total value of $199,033.20. Following the purchase, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at $52,629,549.12. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. In related news, CEO Anthony Noto bought 30,715 shares of SoFi Technologies stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $6.48 per share, for a total transaction of $199,033.20. Following the completion of the acquisition, the chief executive officer now owns 8,121,844 shares in the company, valued at $52,629,549.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders have sold 19,921,285 shares of company stock worth $135,057,462 over the last ninety days. Company insiders own 2.60% of the company’s shares.

Hedge funds influence SoFi technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares during the period. Norges Bank bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $71,349,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. boosted its stake in SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after purchasing an additional 6,870,610 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s shares.

SoFi Technologies Stock Performance

SOFI opened at $7.53 on Friday. The stock has a market cap of $7.96 billion, a PE ratio of -24.29, a P/E/G ratio of 1.62 and a beta of 1.70. SoFi Technologies has a 1 year low of $6.01 and a 1 year high of $10.49. The stock’s 50-day simple moving average is $7.07 and its 200-day simple moving average is $7.22. The company has a current ratio of 0.88, a quick ratio of 0.21, and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI – Get Your Free Report ) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. In the same quarter last year, the company posted EPS of ($0.06). The company’s revenue increased by 20.2% year-on-year. sell-side analysts anticipate that SoFi Technologies will post 0.1 EPS for the current year.

About SoFi Technologies

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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 provides credit and financial services and products that enable its members to borrow, save, spend, invest and protect money.