SoFi Technologies (NASDAQ:SOFI) Rating Increased to Hold at Zacks Investment Research

SoFi Technologies (NASDAQ:SOFI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “SoFi Technologies Inc. provides consumer-focused financial technology platform. SoFi Technologies Inc., formerly known as Social Capital Hedosophia Holdings Corp. V, is based in PALO ALTO, Calif. “

A number of other research analysts also recently weighed in on SOFI. Credit Suisse Group lifted their price target on SoFi Technologies from $16.50 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, November 17th. Mizuho lifted their price objective on SoFi Technologies from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, November 15th. Morgan Stanley started coverage on SoFi Technologies in a research report on Monday, October 11th. They set an “overweight” rating and a $25.00 price objective for the company. Jefferies Financial Group lifted their price objective on SoFi Technologies from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 12th. Finally, Oppenheimer lifted their price objective on SoFi Technologies from $23.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, November 11th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Buy” and a consensus target price of $26.33.

Shares of SOFI stock opened at $18.33 on Wednesday. SoFi Technologies has a 1-year low of $10.10 and a 1-year high of $28.26. The company has a current ratio of 17.29, a quick ratio of 17.29 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $19.30.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Wednesday, November 10th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. On average, equities research analysts anticipate that SoFi Technologies will post -1.84 EPS for the current year.

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 7,361,378 shares of the business’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $21.60, for a total value of $159,005,764.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Thomas Clayton Wilkes sold 10,076,668 shares of SoFi Technologies stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $21.60, for a total value of $217,656,028.80. The disclosure for this sale can be found here. Insiders sold 18,563,709 shares of company stock valued at $393,732,095 in the last ninety days. Insiders own 35.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Mine & Arao Wealth Creation & Management LLC. increased its stake in shares of SoFi Technologies by 40.0% in the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,960 shares of the company’s stock worth $32,000 after purchasing an additional 560 shares during the period. Ancora Advisors LLC increased its stake in SoFi Technologies by 24.0% during the third quarter. Ancora Advisors LLC now owns 3,100 shares of the company’s stock valued at $49,000 after acquiring an additional 600 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in SoFi Technologies by 119.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company’s stock valued at $31,000 after acquiring an additional 1,075 shares during the period. NEXT Financial Group Inc increased its stake in SoFi Technologies by 60.1% during the third quarter. NEXT Financial Group Inc now owns 3,916 shares of the company’s stock valued at $62,000 after acquiring an additional 1,470 shares during the period. Finally, Baldwin Brothers Inc. MA bought a new position in SoFi Technologies during the second quarter valued at about $29,000. Institutional investors and hedge funds own 46.82% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides digital financial services. The company operates through three reportable segments: Lending, Financial Services, and Technology Platform. Its financial services allow its members to borrow, save, spend, invest, and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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Analyst Recommendations for SoFi Technologies (NASDAQ:SOFI)

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