SoFi Technologies (NASDAQ: SOFI – Get a review) had its price target lowered by Mizuho stock research analysts from $9.00 to $7.00 in a research report released Thursday, reports The Fly. The company currently has a “buy” rating on the stock. Mizuho’s price target would suggest a potential upside of 13.09% from the company’s current price.
A number of other equity analysts also weighed in on SOFI. Piper Sandler cut its price target on SoFi Technologies shares from $10.00 to $8.00 and set an “overweight” rating on the stock in a Wednesday, June 29 report. Bank of America cut its price target on SoFi Technologies shares from $12.00 to $7.00 in a Tuesday, May 10 report. Morgan Stanley downgraded shares of SoFi Technologies from an “overweight” rating to an “equal weight” rating and lowered its price target for the company from $18.00 to $10.00 in a Wednesday, March 16 report . Oppenheimer cut his price target on SoFi Technologies shares from $18.00 to $13.00 and set an “outperform” rating on the stock in a Thursday, April 7 report. Finally, Wedbush cut its price target on SoFi Technologies shares from $20.00 to $15.00 in a Thursday, April 7 report. Five analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $13.73.
SOFI stock opened at $6.19 on Thursday. The stock has a market capitalization of $5.67 billion, a P/E ratio of -7.55 and a beta of 1.39. The company has a debt ratio of 0.94, a quick ratio of 5.60 and a current ratio of 5.60. SoFi Technologies has a 1-year low of $4.82 and a 1-year high of $24.65. The company has a 50-day moving average price of $6.36 and a two-hundred-day moving average price of $9.32.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last reported quarterly results on Tuesday, May 10. The company reported ($0.14) earnings per share for the quarter, meeting analyst consensus estimates of ($0.14). The company posted revenue of $321.70 million for the quarter, versus analyst estimates of $283.99 million. SoFi Technologies has a negative net margin of 36.32% and a negative return on equity of 9.24%. The company’s revenue for the quarter increased 48.9% year over year. Research analysts expect SoFi Technologies to post -0.45 earnings per share for the current fiscal year.
Separately, director Harvey M. Schwartz purchased 15,000 shares of the company in a transaction dated Friday, May 13. The stock was purchased at an average price of $6.50 per share, with a total value of $97,500.00. Following the transaction, the administrator now owns 229,852 shares of the company, valued at $1,494,038. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Additionally, Executive Vice President Michelle Gill sold 50,000 shares of the company in a trade dated Tuesday, June 14. The stock was sold at an average price of $5.48, for a total transaction of $274,000.00. Following the completion of the sale, the executive vice president now directly owns 1,831,223 shares of the company, valued at approximately $10,035,102.04. The disclosure of this sale can be found here. Insiders purchased a total of 257,753 shares of the company worth $1,561,711 over the past ninety days. 13.00% of the shares are currently held by insiders.
Institutional investors and hedge funds have recently increased or reduced their stake in the company. CAPROCK Group Inc. increased its position in SoFi Technologies shares by 324.0% in the 4th quarter. CAPROCK Group Inc. now owns 295,207 shares of the company worth $4,667,000 after purchasing an additional 225,579 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of SoFi Technologies in Q4 for a value of approximately $4,031,000. Schonfeld Strategic Advisors LLC increased its position in SoFi Technologies shares by 288.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 772,100 shares of the company worth $12,206,000 after purchasing an additional 573,251 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in SoFi Technologies shares by 4.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,844 shares of the company worth $835,000 after purchasing an additional 2,171 shares in the last quarter. Finally, Aldebaran Financial Inc. increased its position in SoFi Technologies shares by 227.5% in the 4th quarter. Aldebaran Financial Inc. now owns 62,221 shares of the company worth $984,000 after purchasing an additional 43,221 shares in the last quarter. 56.45% of the shares are held by institutional investors.
SoFi Technologies Company Profile (Get an assessment)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow 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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