Mizuho Issues Positive Forecast for SoFi Technologies (NASDAQ:SOFI) Stock Price

SoFi Technologies (NASDAQ:SOFI) had its target price increased by Mizuho from $14.00 to $16.00 in a report released on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other analysts also recently commented on the company. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC upped their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $9.80.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $14.42 on Tuesday. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $14.44. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market cap of $15.65 billion, a PE ratio of 144.20, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. The company’s 50 day moving average is $9.98 and its 200 day moving average is $8.05.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, sell-side analysts forecast that SoFi Technologies will post 0.12 EPS for the current year.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock worth $904,677 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the third quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies during the third quarter worth about $28,000. Allspring Global Investments Holdings LLC raised its stake in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the period. GAMMA Investing LLC boosted its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

About SoFi Technologies

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.