The Goldman Sachs Group Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI) had its price objective upped by The Goldman Sachs Group from $8.50 to $9.50 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

SOFI has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Needham & Company LLC raised their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $16.17 on Tuesday. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $18.42. The company has a fifty day moving average of $15.78 and a 200-day moving average of $11.22. The company has a market capitalization of $17.55 billion, a P/E ratio of 161.72, a P/E/G ratio of 1.19 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same quarter last year, the company earned $0.04 earnings per share. As a group, equities research analysts predict that SoFi Technologies will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares in the company, valued at approximately $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,008,870 shares of company stock valued at $416,950,073. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings in SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $16,014,000. Zacks Investment Management purchased a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $3,766,000. Point72 DIFC Ltd bought a new position in SoFi Technologies during the 3rd quarter valued at approximately $3,219,000. Finally, Rockefeller Capital Management L.P. raised its stake in SoFi Technologies by 20.6% during the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock valued at $17,365,000 after buying an additional 376,899 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

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.