SoFi Technologies (NASDAQ: SOFI – Get a rating) had its price target lowered by Credit Suisse Group equity analysts from $15.50 to $9.50 in a research report released Wednesday, Fly reports. Credit Suisse Group’s price target would suggest a potential upside of 80.95% from the company’s current price.
SOFI has been the subject of several other reports. Mizuho cut its price target on SoFi Technologies from $17.00 to $14.00 and set a “buy” rating for the company in a Thursday, April 7 report. Bank of America cut its price target on SoFi Technologies from $12.00 to $7.00 in a research report on Tuesday. Oppenheimer cut his price target on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating for the company in a Thursday, April 7 research report. Goldman Sachs Group assumed coverage of SoFi Technologies shares in a report on Tuesday, January 18. They issued a “neutral” rating and a price target of $16.00 on the stock. Finally, Morgan Stanley downgraded SoFi Technologies shares from an “overweight” rating to an “equally weighted” rating and lowered its price target for the stock from $18.00 to $10.00 in a report from the Wednesday, March 16. One research analyst rated the stock with a sell rating, six gave the company’s stock a hold rating and seven gave the company’s stock a buy rating. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.04.
Governments around the world want to go “all electric” by 2035. There is a rare metal that could cripple those plans. Without it, going green is impossible. And that is why there is a modern gold rush for this rare metal.
SOFI opened at $5.25 on Wednesday. SoFi Technologies has a 1-year low of $4.82 and a 1-year high of $24.95. The company has a quick ratio of 22.93, a current ratio of 22.93 and a debt ratio of 0.90. The company’s fifty-day moving average price is $8.15 and its two-hundred-day moving average price is $12.99.
SoFi Technologies (NASDAQ: SOFI – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported ($0.14) earnings per share for the quarter, meeting analyst consensus estimates of ($0.14). The company posted revenue of $321.70 million for the quarter, versus a consensus estimate of $283.99 million. SoFi Technologies quarterly revenue increased 48.9% compared to the same quarter last year. Sell-side analysts predict SoFi Technologies will post -0.41 EPS for the current fiscal year.
In related news, Insider Micah Heavener sold 5,000 shares of the company in a transaction that took place on Thursday, March 17. The shares were sold at an average price of $8.01, for a total transaction of $40,050.00. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, CEO Antoine Noto bought 15,000 shares of the company in a trade on Friday, March 4. The shares were purchased at an average cost of $9.96 per share, with a total value of $149,400.00. Disclosure of this purchase can be found here. Insiders have acquired a total of 97,640 shares of the company worth $871,799 over the past three months. Insiders hold 35.10% of the shares of the company.
Several hedge funds have recently changed their holdings in SOFI. CTC Capital Management LLC acquired a new stake in SoFi Technologies during the first quarter at a value of $195,000. B. Riley Wealth Management Inc. increased its position in SoFi Technologies shares by 19.0% during the 1st quarter. B. Riley Wealth Management Inc. now owns 71,700 shares of the company valued at $678,000 after acquiring 11,445 additional shares in the last quarter. Hartline Investment Corp increased its holdings of SoFi Technologies shares by 58.8% in the first quarter. Hartline Investment Corp now owns 379,059 shares of the company worth $7,267,000 after buying an additional 140,420 shares last quarter. OLD Second National Bank of Aurora bought a new stock position in SoFi Technologies in the first quarter for a value of approximately $2,424,000. Finally, Strategic Wealth Advisors Group LLC increased its stake in SoFi Technologies by 188.3% in the first quarter. Strategic Wealth Advisors Group LLC now owns 98,802 shares of the company valued at $929,000 after purchasing an additional 64,529 shares last quarter. Institutional investors hold 56.45% of the company’s shares.
SoFi Technologies Company Profile (Get a rating)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow its members to borrow, save, spend, invest and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
See also
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in SoFi Technologies right now?
Before you consider SoFi Technologies, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and SoFi Technologies didn’t make the list.
While SoFi Technologies currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here
