SoFi Technologies (NASDAQ:SOFI) PT Lowered to $11.00 at Deutsche Bank Aktiengesellschaft

SoFi Technologies (NASDAQ:SOFI) had its price target cut by Deutsche Bank Aktiengesellschaft from $12.00 to $11.00 in a report issued on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also recently issued reports about the company. Citigroup initiated coverage on SoFi Technologies in a research report on Monday, April 8th. They issued a buy rating and a $11.00 price objective for the company. Needham & Company LLC restated a buy rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday. Keefe, Bruyette & Woods upgraded SoFi Technologies from an underperform rating to a market perform rating and boosted their price objective for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Mizuho dropped their price target on SoFi Technologies from $15.00 to $12.00 and set a buy rating for the company in a research report on Thursday, January 18th. Finally, Morgan Stanley reiterated an underweight rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $9.08.

SoFi Technologies Stock Performance

NASDAQ:SOFI traded down $0.03 during trading hours on Tuesday, reaching $6.96. The company had a trading volume of 56,460,235 shares, compared to its average volume of 54,340,824. SoFi Technologies has a 1-year low of $4.45 and a 1-year high of $11.70. The firm has a market cap of $6.80 billion, a PE ratio of -22.58 and a beta of 1.75. The business’s 50 day moving average price is $7.53 and its 200-day moving average price is $7.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. SoFi Technologies’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) earnings per share. Research analysts forecast that SoFi Technologies will post 0.08 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds have recently bought and sold shares of the company. Chevy Chase Trust Holdings LLC lifted its stake in SoFi Technologies by 28.9% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 13,335 shares of the company’s stock worth $97,000 after acquiring an additional 2,989 shares in the last quarter. GSA Capital Partners LLP lifted its stake in SoFi Technologies by 43.6% during the 1st quarter. GSA Capital Partners LLP now owns 67,562 shares of the company’s stock worth $493,000 after acquiring an additional 20,513 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after acquiring an additional 6,870,610 shares in the last quarter. Pegasus Asset Management Inc. lifted its stake in SoFi Technologies by 3.7% during the 1st quarter. Pegasus Asset Management Inc. now owns 101,985 shares of the company’s stock worth $744,000 after acquiring an additional 3,656 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new position in SoFi Technologies during the 1st quarter worth about $6,264,000. Institutional investors and hedge funds 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.