Needham & Company LLC Boosts SoFi Technologies (NASDAQ:SOFI) Price Target to $20.00

SoFi Technologies (NASDAQ:SOFI) had its price target hoisted by equities research analysts at Needham & Company LLC from $13.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 24.38% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. The Goldman Sachs Group raised their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Mizuho boosted 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. Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $12.29.

SoFi Technologies Trading Down 10.3 %

SoFi Technologies stock opened at $16.08 on Tuesday. The stock has a market cap of $17.45 billion, a P/E ratio of 160.82, a PEG ratio of 1.19 and a beta of 1.78. SoFi Technologies has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The firm’s fifty day moving average price is $15.75 and its 200-day moving average price is $11.15. 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 released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 period in the previous year, the company posted $0.04 EPS. Equities research analysts forecast that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SoFi Technologies

Several large investors have recently modified their holdings of SOFI. Connor Clark & Lunn Investment Management Ltd. raised 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 buying an additional 2,688,847 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in SoFi Technologies during the 3rd quarter valued at $16,014,000. Zacks Investment Management bought a new stake in shares of SoFi Technologies in the 3rd quarter worth $3,766,000. Point72 DIFC Ltd bought a new position in shares of SoFi Technologies during the third quarter valued at $3,219,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of 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. Hedge funds and other institutional investors own 38.43% of the company’s stock.

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.