Sofi Technologies (NASDAQ: SOFI – Get a rating) had its target price lowered by Mizuho stock analysts from $14.00 to $9.00 in a report on Tuesday, Fly reports. Mizuho’s target price would indicate a potential upside of 30.25% from the company’s current price.
A number of other stock analysts have also weighed in on the company recently. Oppenheimer lowered his price target on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating on the stock in a Thursday, April 7 research report. Piper Sandler upgraded SoFi Technologies from a “neutral” rating to an “overweight” rating and lowered its price target for the stock from $12.00 to $10.00 in a report released Monday. Citigroup cut its price target on SoFi Technologies from $17.00 to $11.00 in a Thursday, May 12 report. Morgan Stanley downgraded SoFi Technologies from an “overweight” rating to an “equal weight” rating and lowered its price target for the stock from $18.00 to $10.00 in a Wednesday, March 16 report. To finish, Zacks Investment Research upgraded SoFi Technologies from a “hold” rating to a “sell” rating in a Wednesday, May 4, report. One analyst rated the stock with a sell rating, five issued a hold rating and eight assigned the company a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $14.04.
Shares of NASDAQ SOFI opened at $6.91 on Tuesday. The company’s 50-day moving average price is $7.85 and its two-hundred-day moving average price is $12.56. The company has a market capitalization of $5.73 billion, a PE ratio of -8.43 and a beta of 0.91. The company has a quick ratio of 5.60, a current ratio of 5.60 and a leverage ratio of 0.94. SoFi Technologies has a 12-month low of $4.82 and a 12-month high of $24.95.
Sofi Technologies (NASDAQ: SOFI – Get a rating) last announced its 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 a consensus estimate of $283.99 million. SoFi Technologies posted a negative return on equity of 9.24% and a negative net margin of 36.32%. The company’s revenue for the quarter increased 48.9% year over year. As a group, research analysts expect SoFi Technologies to post -0.42 EPS for the current fiscal year.
In related news, CEO Antoine Noto bought 15,350 shares of the company in a transaction that took place on Monday, March 7. The shares were acquired at an average cost of $9.73 per share, for a total transaction of $149,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at the SEC website. Additionally, director Ahmed Ali Al-Hammadi purchased 10,000 shares of the company in a transaction on Wednesday, March 16. The shares were acquired at an average price of $8.40 per share, with a total value of $84,000.00. Disclosure of this purchase can be found here. During the last quarter, insiders purchased 97,640 shares of the company valued at $871,799. 35.10% of the shares are currently held by company insiders.
A number of hedge funds and other institutional investors have recently increased or reduced their stake in SOFI. Riverwood Capital Management Ltd. acquired a new stake in SoFi Technologies during the first quarter at a value of $207,873,000. BlackRock Inc. increased its stake in SoFi Technologies to 47,019.8% during the third quarter. BlackRock Inc. now owns 13,624,205 shares of the company worth $216,352,000 after purchasing an additional 13,595,291 shares in the last quarter. DCM International VI Ltd. acquired a new stake in SoFi Technologies during the fourth quarter at a value of $185,092,000. Geode Capital Management LLC increased its equity stake in SoFi Technologies by 792.3% during the third quarter. Geode Capital Management LLC now owns 5,384,680 shares of the company worth $85,508,000 after purchasing an additional 4,781,208 shares last quarter. Finally, State Street Corp increased its equity stake in SoFi Technologies by 222.0% during the fourth quarter. State Street Corp now owns 5,929,036 shares of the company worth $93,738,000 after purchasing an additional 4,087,917 shares in the last quarter. Hedge funds and other institutional investors hold 56.45% of the company’s shares.
SoFi Technologies Company Profile (Get a rating)
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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