SoFi Technologies (NASDAQ: SOFI – Get a rating) had its price target lowered by Credit Suisse Group equity analysts from $15.50 to $9.50 in a research report released Wednesday, Fly reports. Credit Suisse Group’s price target would suggest a potential upside of 80.95% from the company’s current price.
SOFI has been the subject of several other reports. Mizuho cut its price target on SoFi Technologies from $17.00 to $14.00 and set a “buy” rating for the company in a Thursday, April 7 report. Bank of America cut its price target on SoFi Technologies from $12.00 to $7.00 in a research report on Tuesday. Oppenheimer cut his price target on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating for the company in a Thursday, April 7 research report. Goldman Sachs Group assumed coverage of SoFi Technologies shares in a report on Tuesday, January 18. They issued a “neutral” rating and a price target of $16.00 on the stock. Finally, Morgan Stanley downgraded SoFi Technologies shares from an “overweight” rating to an “equally weighted” rating and lowered its price target for the stock from $18.00 to $10.00 in a report from the Wednesday, March 16. One research analyst rated the stock with a sell rating, six gave the company’s stock a hold rating and seven gave the company’s stock a buy rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.04.
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SOFI opened at $5.25 on Wednesday. SoFi Technologies has a 1-year low of $4.82 and a 1-year high of $24.95. The company has a quick ratio of 22.93, a current ratio of 22.93 and a debt ratio of 0.90. The company’s fifty-day moving average price is $8.15 and its two-hundred-day moving average price is $12.99.
SoFi Technologies (NASDAQ: SOFI – Get a rating) last released 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 quarterly revenue increased 48.9% compared to the same quarter last year. Sell-side analysts predict SoFi Technologies will post -0.41 EPS for the current fiscal year.
In related news, Insider Micah Heavener sold 5,000 shares of the company in a transaction that took place on Thursday, March 17. The shares were sold at an average price of $8.01, for a total transaction of $40,050.00. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, CEO Antoine Noto bought 15,000 shares of the company in a trade on Friday, March 4. The shares were purchased at an average cost of $9.96 per share, with a total value of $149,400.00. Disclosure of this purchase can be found here. Insiders have acquired a total of 97,640 shares of the company worth $871,799 over the past three months. Insiders hold 35.10% of the shares of the company.
Several hedge funds have recently changed their holdings in SOFI. CTC Capital Management LLC acquired a new stake in SoFi Technologies during the first quarter at a value of $195,000. B. Riley Wealth Management Inc. increased its position in SoFi Technologies shares by 19.0% during the 1st quarter. B. Riley Wealth Management Inc. now owns 71,700 shares of the company valued at $678,000 after acquiring 11,445 additional shares in the last quarter. Hartline Investment Corp increased its holdings of SoFi Technologies shares by 58.8% in the first quarter. Hartline Investment Corp now owns 379,059 shares of the company worth $7,267,000 after buying an additional 140,420 shares last quarter. OLD Second National Bank of Aurora bought a new stock position in SoFi Technologies in the first quarter for a value of approximately $2,424,000. Finally, Strategic Wealth Advisors Group LLC increased its stake in SoFi Technologies by 188.3% in the first quarter. Strategic Wealth Advisors Group LLC now owns 98,802 shares of the company valued at $929,000 after purchasing an additional 64,529 shares last quarter. 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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