SoFi Technologies (NASDAQ: SOFI – Get a rating) had its target price reduced by Mizuho stock analysts from $9.00 to $7.00 in a report on Thursday, Fly reports. Mizuho’s target price indicates a potential upside of 18.64% from the stock’s previous close.
SOFI has been the subject of several other research reports. Citigroup cut its price target on SoFi Technologies shares from $17.00 to $11.00 in a report Thursday, May 12. Wedbush cut its price target on SoFi Technologies shares from $20.00 to $15.00 in a Thursday, April 7 report. Bank of America lowered its target price on SoFi Technologies from $12.00 to $7.00 in a Tuesday, May 10 research 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 research report . Finally, 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. Five analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.73.
NASDAQ SOFI opened at $5.90 on Thursday. The company has a quick ratio of 5.60, a current ratio of 5.60 and a leverage ratio of 0.94. The company has a fifty-day moving average of $6.37 and a two-hundred-day moving average of $9.44. SoFi Technologies has a 52-week low of $4.82 and a 52-week high of $24.65.
SoFi Technologies (NASDAQ: SOFI – Get a rating) last released its results on Tuesday, May 10. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analyst consensus estimates of ($0.14). The company posted revenue of $321.70 million in the quarter, compared to 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 quarterly revenue increased by 48.9% compared to the same quarter last year. Equity analysts expect SoFi Technologies to post -0.45 EPS for the current fiscal year.
In other news, EVP Michelle Gil sold 50,000 shares of SoFi Technologies in a trade dated Tuesday, June 14. The stock was sold at an average price of $5.48, for a total value of $274,000.00. Following the completion of the transaction, the executive vice president now owns 1,831,223 shares of the company, valued at approximately $10,035,102.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Also, CEO Antoine Noto acquired 13,500 shares of the company in a transaction dated Thursday, May 19. The stock was purchased at an average price of $7.79 per share, with a total value of $105,165.00. Following the purchase, the CEO now directly owns 3,212,839 shares of the company, valued at approximately $25,028,015.81. Disclosure of this purchase can be found here. Insiders purchased a total of 257,753 shares of the company worth $1,561,711 over the past three months. Company insiders hold 13.00% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their holdings in the company. Amplius Wealth Advisors LLC acquired a new position in shares of SoFi Technologies in the fourth quarter worth approximately $31,000. TimeScale Financial Inc. increased its stake in SoFi Technologies by 81.5% in the fourth quarter. TimeScale Financial Inc. now owns 2,319 shares of the company valued at $37,000 after buying an additional 1,041 shares in the last quarter. AdvisorNet Financial Inc increased its stake in SoFi Technologies by 163.3% in the fourth quarter. AdvisorNet Financial Inc now owns 2,370 shares of the company valued at $37,000 after buying an additional 1,470 shares in the last quarter. WASHINGTON TRUST Co acquired a new position in SoFi Technologies in the first quarter worth $26,000. Finally, IFP Advisors Inc increased its stake in SoFi Technologies by 194.1% in the fourth quarter. IFP Advisors Inc now owns 2,982 shares of the company valued at $53,000 after buying an additional 1,968 shares in the last quarter. 56.45% of the shares are currently held by institutional investors and hedge funds.
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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