Shares of SoFi Technologies, Inc. (NASDAQ: SOFI) received an average recommendation of “Buy” from the seven analysts who currently cover the stock, reports Marketbeat. Two research analysts rated the stock with a conservation rating and five gave the company a buy rating. The one-year average price target among brokerage firms that hedged the security in the past year is $ 24.92.
Several research analysts have weighed in on the company recently. Credit Suisse Group began covering SoFi Technologies in a research report on Thursday, September 9. They set a “neutral” rating and a target price of $ 16.50 on the stock. Morgan Stanley began covering SoFi Technologies in a research report on Monday, October 11. They issued an “overweight” rating and a target price of $ 25.00 on the stock. Mizuho began covering SoFi Technologies in a research report on Tuesday, September 14. They issued a âbuyâ note and a target price of $ 28.00 on the stock. Jefferies Financial Group began covering SoFi Technologies in a research report on Wednesday, September 22. They issued a âbuyâ note and a target price of $ 25.00 on the stock. Ultimately, Zacks investment research downgraded SoFi Technologies from a âsellâ rating to a âconservationâ rating in a research report released on Thursday, October 14.
In related news, vice president Thomas clayton wilkes sold 1,119,413 shares in a transaction that took place on Monday, September 13. The stock was sold for an average price of $ 15.16, for a total trade of $ 16,970,301.08. The sale was disclosed in a file with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, CEO Antoine Noto bought 7,150 shares of the company in a transaction that took place on Tuesday, August 17. The shares were purchased at an average price of $ 13.78 per share, for a total value of $ 98,527.00. Following the purchase, the CEO now owns 2,217,252 shares of the company, valued at $ 30,553,732.56. Disclosure of this purchase can be found here. In the past three months, insiders bought 24,950 shares of the company valued at $ 349,513 and sold 1,145,663 shares valued at $ 17,366,901. Company insiders own 35.10% of the company’s shares.
A number of large investors have recently changed their positions in the stock. Mine & Arao Wealth Creation & Management LLC. purchased a new equity stake in SoFi Technologies in the second quarter valued at approximately $ 27,000. Baldwin Brothers Inc. MA purchased a new equity stake in SoFi Technologies in the second quarter valued at approximately $ 29,000. Wagner Wealth Management LLC purchased a new equity stake in SoFi Technologies in the second quarter for a value of approximately $ 38,000. Herold Advisors Inc. purchased a new equity stake in SoFi Technologies in the third quarter valued at approximately $ 31,000. Finally, Cypress Capital LLC purchased a new equity stake in SoFi Technologies in the second quarter for a value of approximately $ 40,000. Hedge funds and other institutional investors hold 46.82% of the company’s shares.
NASDAQ: SOFI open at $ 20.42 Thursday. SoFi Technologies has a one-year minimum at $ 10.10 and a one-year maximum at $ 28.26. The company has a current ratio of 17.29, a rapid ratio of 17.29 and a debt ratio of 0.55. The company’s fifty-day simple moving average is $ 18.15.
SoFi Technologies (NASDAQ: SOFI) last released its quarterly results on Wednesday, November 10. The company reported ($ 0.05) earnings per share for the quarter, exceeding the consensus estimate of ($ 0.14) by $ 0.09. Equity research analysts predict SoFi Technologies will post EPS of -1.84 for the current year.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. The company operates in three segments to present: 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.
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