Equities research analysts at Bank of America began coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a report issued on Friday, The Fly reports. The firm set a “buy” rating and a $17.00 price target on the stock. Bank of America’s target price suggests a potential upside of 37.21% from the stock’s previous close.
A number of other research firms have also weighed in on SOFI. Rosenblatt Securities raised their price objective on shares of SoFi Technologies from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, January 19th. Citigroup initiated coverage on shares of SoFi Technologies in a report on Monday, December 20th. They issued a “buy” rating and a $20.00 target price for the company. Mizuho lowered their target price on shares of SoFi Technologies from $30.00 to $17.00 in a report on Tuesday, January 18th. Keefe, Bruyette & Woods began coverage on shares of SoFi Technologies in a report on Monday, November 29th. They set a “market perform” rating and a $21.00 price objective for the company. Finally, Morgan Stanley cut their target price on shares of SoFi Technologies from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, January 14th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of “Buy” and an average price target of $20.36.
SoFi Technologies stock opened at $12.39 on Friday. SoFi Technologies has a 1-year low of $10.51 and a 1-year high of $24.95. The firm’s fifty day moving average price is $13.97 and its two-hundred day moving average price is $16.28. The company has a quick ratio of 17.57, a current ratio of 17.58 and a debt-to-equity ratio of 0.65.
SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $277.19 million during the quarter, compared to the consensus estimate of $263.16 million. Analysts anticipate that SoFi Technologies will post -1.61 earnings per share for the current fiscal year.
In other SoFi Technologies news, insider Micah Heavener sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 20th. The stock was sold at an average price of $15.00, for a total value of $30,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Thomas Clayton Wilkes sold 10,076,668 shares of the business’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $21.60, for a total value of $217,656,028.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,543,508 shares of company stock worth $378,607,910. Company insiders own 35.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mine & Arao Wealth Creation & Management LLC. increased its position in shares of SoFi Technologies by 40.0% during the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,960 shares of the company’s stock valued at $32,000 after purchasing an additional 560 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of SoFi Technologies by 119.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock valued at $31,000 after purchasing an additional 1,075 shares during the last quarter. Wagner Wealth Management LLC purchased a new stake in SoFi Technologies in the 2nd quarter worth approximately $38,000. Herold Advisors Inc. purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $31,000. Finally, Amplius Wealth Advisors LLC purchased a new stake in SoFi Technologies in the 4th quarter worth approximately $31,000. 45.81% of the stock is owned by hedge funds and other institutional investors.
SoFi Technologies Company Profile
SoFi Technologies, Inc provides digital financial services. The company operates through three reportable segments: 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.