SoFi Technologies, Inc. (NASDAQ:SOFI) Receives Consensus “Buy Moderate” Recommendation From Brokerages
Shares of SoFi Technologies, Inc. (NASDAQ: SOFI – Get a rating) received a consensus “moderate buy” recommendation from the fourteen brokerages that currently cover the business, Market Beat Ratings reports. Five equity research analysts gave the stock a hold rating and seven gave the company a buy rating. The 12-month average target price among brokerages that have covered the stock over the past year is $11.69.
Several brokerages have recently commented on SOFI. Seaport Res Ptn reiterated a “neutral” rating on SoFi Technologies shares in a Friday, September 9 research report. Bank of America upgraded SoFi Technologies from a “neutral” rating to a “buy” rating and raised its price target for the stock from $8.00 to $9.00 in a Wednesday, September 14 research note . Bank Of America (Bofa) upgraded SoFi Technologies from a “neutral” rating to a “buy” rating and raised its target price for the company from $8.00 to $9.00 in a Wednesday 14 research note. september. Goldman Sachs Group cut its price target on SoFi Technologies from $8.50 to $7.50 and set a “neutral” rating on the stock in a Wednesday, November 2 research note. Finally, Credit Suisse Group raised its price target on SoFi Technologies from $8.00 to $8.50 and gave the company a “neutral” rating in a Wednesday, August 3 research note.
SoFi Technologies shares down 3.7%
Shares of NASDAQ: SOFI opened at $5.18 on Monday. The stock has a market capitalization of $4.81 billion, a price-earnings ratio of -10.36 and a beta of 1.57. The stock has a fifty-day simple moving average of $5.38 and a two-hundred-day simple moving average of $6.09. SoFi Technologies has a 12-month low of $4.77 and a 12-month high of $21.10. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt ratio of 0.88.
Institutional investors weigh in on SoFi Technologies
Institutional investors have recently changed their stake in the company. Riverwood Capital Management Ltd. acquired a new stock position in SoFi Technologies during the first quarter worth approximately $207,873,000. State Street Corp increased its stake in SoFi Technologies shares by 76.6% during the second quarter. State Street Corp now owns 11,686,894 shares of the company valued at $61,590,000 after purchasing an additional 5,068,034 shares during the period. Vanguard Group Inc. increased its stake in SoFi Technologies shares by 7.8% during the third quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company valued at $326,027,000 after purchasing an additional 4,846,633 shares during the period. Point72 Asset Management LP increased its stake in SoFi Technologies shares by 35,197.2% during the third quarter. Point72 Asset Management LP now owns 3,509,722 shares of the company valued at $17,127,000 after purchasing an additional 3,519,722 shares during the period. Finally, Banco BTG Pactual SA acquired a new position in SoFi Technologies during the first quarter worth approximately $18,467,000. 38.19% of the shares are held by hedge funds and other institutional investors.
SoFi Technologies Company Profile
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.
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