SoFi Technologies (NASDAQ:SOFI) Receives New Coverage from Analysts at BTIG Research

BTIG Research began coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research report report published on Friday, Marketbeat.com reports. The brokerage issued a neutral rating on the stock.

SOFI has been the subject of several other reports. Citigroup started coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a buy rating and a $11.00 price objective for the company. Needham & Company LLC reaffirmed a buy rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Wedbush reaffirmed an underperform rating and issued a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Jefferies Financial Group dropped their target price on SoFi Technologies from $15.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on SoFi Technologies from $12.00 to $11.00 and set a hold rating on the stock in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $9.08.

SoFi Technologies Stock Up 0.6 %

Shares of SoFi Technologies stock opened at $7.03 on Friday. The stock has a 50-day moving average price of $7.17 and a 200 day moving average price of $7.81. The company has a market cap of $7.43 billion, a P/E ratio of -22.68, a P/E/G ratio of 1.63 and a beta of 1.72. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. SoFi Technologies has a 1 year low of $6.41 and a 1 year high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. As a group, analysts expect that SoFi Technologies will post 0.08 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony Noto bought 28,900 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $6.92 per share, with a total value of $199,988.00. Following the purchase, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $27,000. Westside Investment Management Inc. lifted its position in shares of SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares during the period. ORG Partners LLC bought a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $27,000. Tortoise Investment Management LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $39,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $40,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Company Profile

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 offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.