SoFi Technologies, Inc. (NASDAQ:SOFI) – Wedbush equity analysts cut their fiscal 2021 earnings per share estimates for SoFi Technologies in a research note released Monday, February 7. Wedbush analyst D. Chiaverini now expects the company to post earnings of ($3.49) per share for the year, down from its previous estimate of ($3.44). ). Wedbush currently has an “outperform” rating and a target price of $20.00 on the stock. Wedbush also released SoFi Technologies Q4 2021 earnings estimates at ($0.15) EPS, Q1 2022 earnings at ($0.11) EPS, FY2022 earnings at ($0.51) $) EPS and FY2023 earnings at ($0.34) EPS. SoFi Technologies Inc (NASDAQ:SOFI) last reported results on Wednesday, November 10. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.14) by $0.09. The company posted revenue of $277.19 million in the quarter, versus a consensus estimate of $263.16 million.
SOFI has been the subject of a number of other research reports. Jefferies Financial Group raised its price target on SoFi Technologies shares from $24.00 to $26.00 and gave the company a “buy” rating in a Friday, November 12 research note. Rosenblatt Securities raised its price target on SoFi Technologies shares from $28.00 to $30.00 and gave the company a “buy” rating in a Wednesday, Jan. 19, report. Goldman Sachs Group began covering SoFi Technologies shares in a report on Tuesday, January 18. They issued a “neutral” rating and a price target of $16.00 for the company. Mizuho lowered its price target on SoFi Technologies shares from $30.00 to $17.00 in a Tuesday, January 18 report. Finally, Morgan Stanley lowered its price target on SoFi Technologies shares from $22.00 to $20.00 and set an “overweight” rating for the company in a Friday, January 14 report. Four equity research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $21.70.
NASDAQ: SOFI opened at $12.13 on Wednesday. SoFi Technologies has a 1-year low of $10.51 and a 1-year high of $24.95. The company has a 50-day moving average of $14.13 and a 200-day moving average of $16.33. The company has a current ratio of 17.58, a quick ratio of 17.57 and a debt ratio of 0.65.
Several hedge funds and other institutional investors have recently changed their positions in SOFI. Insight Advisors LLC PA increased its position in SoFi Technologies by 66.1% in the 4th quarter. Insight Advisors LLC PA now owns 42,888 shares of the company valued at $678,000 after acquiring an additional 17,065 shares in the last quarter. CENTRAL TRUST Co increased its position in SoFi Technologies by 21.0% in the 4th quarter. CENTRAL TRUST Co now owns 114,344 shares of the company valued at $1,808,000 after acquiring an additional 19,851 shares in the last quarter. Westpac Banking Corp bought a new stake in SoFi Technologies in Q4 worth $605,000. Stockman Wealth Management Inc. increased its position in SoFi Technologies by 14.8% in the fourth quarter. Stockman Wealth Management Inc. now owns 20,000 shares of the company valued at $316,000 after acquiring 2,576 additional shares last quarter. Finally, Venture Visionary Partners LLC increased its position in SoFi Technologies by 47.0% in the 4th quarter. Venture Visionary Partners LLC now owns 61,072 shares of the company valued at $965,000 after acquiring 19,515 additional shares in the last quarter. 45.81% of the shares are currently held by institutional investors.
In other SoFi Technologies news, an insider Micah Heavener sold 2,000 shares of SoFi Technologies in a trade on Thursday, January 20. The shares were sold at an average price of $15.00, for a total transaction of $30,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, Director Iv (Gp) LLC Slta sold 7,361,378 shares of SoFi Technologies in a trade on Thursday, November 18. The stock was sold at an average price of $21.60, for a total transaction of $159,005,764.80. Disclosure of this sale can be found here. Insiders sold a total of 17,543,508 shares of the company valued at $378,607,910 over the past ninety days. Insiders of the company hold 35.10% of the shares of the company.
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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