The Goldman Sachs Group Forecasts Strong Price Appreciation for SoFi Technologies (NASDAQ:SOFI) Stock

SoFi Technologies (NASDAQ:SOFI) had its price target increased by analysts at The Goldman Sachs Group from $8.50 to $9.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 39.00% from the stock’s previous close.

A number of other research firms have also recently weighed in on SOFI. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday. Citigroup upped their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Barclays upped their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Down 3.1 %

Shares of NASDAQ:SOFI traded down $0.51 during midday trading on Tuesday, hitting $15.58. 19,368,769 shares of the stock were exchanged, compared to its average volume of 46,103,535. SoFi Technologies has a 52-week low of $6.01 and a 52-week high of $18.42. The business’s fifty day simple moving average is $15.75 and its two-hundred day simple moving average 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. The company has a market capitalization of $16.90 billion, a PE ratio of 155.87, a P/E/G ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 prior year, the company posted $0.04 EPS. As a group, research analysts predict that SoFi Technologies will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the transaction, the director now directly owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SoFi Technologies

A number of institutional investors have recently made changes to their positions in SOFI. Hanseatic Management Services Inc. purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $1,116,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after buying an additional 87,097 shares in the last quarter. Zacks Investment Management purchased a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $3,766,000. Citizens Financial Group Inc. RI raised its position in shares of SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in SoFi Technologies by 214.9% during the 3rd 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. 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.