Keefe, Bruyette & Woods Reaffirms Underperform Rating for SoFi Technologies (NASDAQ:SOFI)

Keefe, Bruyette & Woods reiterated their underperform rating on shares of SoFi Technologies (NASDAQ:SOFI) in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have a $8.00 target price on the stock, up from their prior target price of $7.00.

Several other brokerages have also recently weighed in on SOFI. Barclays upped their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus target price of $11.13.

SoFi Technologies Trading Up 5.0 %

Shares of SOFI opened at $14.84 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 148.41, a PEG ratio of 2.70 and a beta of 1.77. The company has a 50-day moving average of $14.59 and a 200 day moving average of $10.06. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 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%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the business posted ($0.03) EPS. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. On average, research analysts expect that SoFi Technologies will post 0.12 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. This trade represents a 4.53 % 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, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of SoFi Technologies

A number of large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies during the 3rd quarter worth $28,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the 3rd quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies in the third quarter worth $47,000. Hedge funds and other institutional investors 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.