SoFi Technologies (NASDAQ:SOFI) Rating Reiterated by Needham & Company LLC

SoFi Technologies (NASDAQ:SOFI)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $10.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 41.94% from the company’s current price.

SOFI has been the topic of a number of other research reports. Mizuho cut their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Citigroup assumed coverage on shares of SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Morgan Stanley reissued an “underweight” rating and set a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $7.05 on Tuesday. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of -18.54 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The company’s 50 day simple moving average is $7.61 and its 200 day simple moving average is $7.88. SoFi Technologies has a 1 year low of $4.45 and a 1 year high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 34.7% on a year-over-year basis. As a group, research analysts predict that SoFi Technologies will post 0.08 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of SoFi Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its holdings in shares of SoFi Technologies by 5.6% in the first quarter. Commonwealth Equity Services LLC now owns 608,576 shares of the company’s stock valued at $4,443,000 after purchasing an additional 32,114 shares during the last quarter. Principal Financial Group Inc. grew its position in SoFi Technologies by 37.1% during the first quarter. Principal Financial Group Inc. now owns 80,650 shares of the company’s stock valued at $589,000 after buying an additional 21,805 shares during the period. Trueblood Wealth Management LLC grew its position in SoFi Technologies by 41.0% during the first quarter. Trueblood Wealth Management LLC now owns 22,103 shares of the company’s stock valued at $161,000 after buying an additional 6,426 shares during the period. McGuire Investment Group LLC grew its position in SoFi Technologies by 10.2% during the first quarter. McGuire Investment Group LLC now owns 39,950 shares of the company’s stock valued at $292,000 after buying an additional 3,700 shares during the period. Finally, UMB Bank n.a. grew its position in SoFi Technologies by 36.1% during the first quarter. UMB Bank n.a. now owns 31,237 shares of the company’s stock valued at $228,000 after buying an additional 8,278 shares during the period. 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.