JMP Securities Initiates Coverage on SoFi Technologies (NASDAQ:SOFI)

Investment analysts at JMP Securities initiated coverage on shares of SoFi Technologies (NASDAQ:SOFI) in a research note issued on Friday,Benzinga reports. The brokerage set a “market outperform” rating and a $17.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 31.99% from the stock’s current price.

A number of other equities analysts have also recently commented on SOFI. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Citigroup lifted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday. They set an “outperform” rating and a $17.00 price target for the company. UBS Group boosted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Needham & Company LLC upped their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.10.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $12.88 on Friday. The stock’s 50-day moving average is $12.20 and its 200 day moving average is $13.64. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 2.24 and a beta of 1.86. SoFi Technologies has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the company posted $0.04 EPS. On average, sell-side analysts anticipate that SoFi Technologies will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the transaction, the executive vice president now directly owns 226,210 shares of the company’s stock, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock valued at $1,271,115 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

A number of hedge funds have recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ purchased a new position in SoFi Technologies during the fourth quarter valued at $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies during the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies in the 4th quarter worth about $32,000. FNY Investment Advisers LLC boosted its stake in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at about $38,000. 38.43% of the stock is owned by institutional investors.

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.