BofA Securities slashes price target on SoFi Technologies Inc. [SOFI] – find out why.

SoFi Technologies Inc. [NASDAQ: SOFI] closed the trading session at $5.18 on 11/04/22. The day’s price range saw the stock hit a low of $5.06, while the highest price level was $5.51. The company report on November 1, 2022 that SoFi Technologies, Inc. Reports Third Quarter 2022 Results.

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Record GAAP and Adjusted Net Revenue for Third Quarter 2022 GAAP Net Revenue of $424 Million Up 56%; $419 Million Adjusted Net Revenue Up 51% Year-over-YearRecord Adjusted EBITDA of $44 Million Up 332% Year-over-Year and Up 118% SequentiallyNew Member Adds of Nearly 424,000; Quarter-End Total Members Up 61% Year-over-Year to Over 4.7 MillionNew Product Adds of Over 635,000; Quarter-End Total Products Up 69% Year-over-Year to Nearly 7.2 MillionManagement Raises Full-Year 2022 Guidance.

SoFi Technologies, Inc. (NASDAQ: SOFI), a member-centric, one-stop shop for digital financial services that helps members borrow, save, spend, invest and protect their money, reported financial results today for its third quarter ended September 30, 2022.

The stocks have a year to date performance of -67.24 percent and weekly performance of -4.95 percent. The stock has been moved at -19.57 percent over the last six months. The stock has performed -2.08 percent around the most recent 30 days and changed -35.09 percent over the most recent 3-months.

If compared to the average trading volume of 45.51M shares, SOFI reached to a volume of 53319940 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about SoFi Technologies Inc. [SOFI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SOFI shares is $8.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SOFI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for SoFi Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 14, 2022. While these analysts kept the previous recommendation, Seaport Research Partners raised their target price to Neutral. The new note on the price target was released on September 09, 2022, representing the official price target for SoFi Technologies Inc. stock. Previously, the target price had yet another drop from $12 to $10, while Piper Sandler kept a Overweight rating on SOFI stock.

The Average True Range (ATR) for SoFi Technologies Inc. is set at 0.39, with the Price to Sales ratio for SOFI stock in the period of the last 12 months amounting to 9.94. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 1.01.

SOFI stock trade performance evaluation

SoFi Technologies Inc. [SOFI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.95. With this latest performance, SOFI shares dropped by -2.08% in over the last four-week period, additionally sinking by -19.57% over the last 6 months – not to mention a drop of -77.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SOFI stock in for the last two-week period is set at 46.75, with the RSI for the last a single of trading hit 46.18, and the three-weeks RSI is set at 46.45 for SoFi Technologies Inc. [SOFI]. The present Moving Average for the last 50 days of trading for this stock 5.49, while it was recorded at 5.37 for the last single week of trading, and 7.43 for the last 200 days.

SoFi Technologies Inc. [SOFI]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SoFi Technologies Inc. [SOFI] shares currently have an operating margin of -34.79 and a Gross Margin at +41.65. SoFi Technologies Inc.’s Net Margin is presently recorded at -44.49.

Return on Equity for this stock declined to -12.49, with Return on Assets sitting at -5.46.

Earnings per share (EPS) analysis for SoFi Technologies Inc. [SOFI] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SOFI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SoFi Technologies Inc. go to 43.00%.

SoFi Technologies Inc. [SOFI]: Insider Ownership positions

There are presently around $2,061 million, or 33.10% of SOFI stock, in the hands of institutional investors. The top three institutional holders of SOFI stocks are: SOFTBANK GROUP CORP with ownership of 95,281,895, which is approximately 0% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 61,962,100 shares of the stock with an approximate value of $320.96 million in SOFI stocks shares; and SILVER LAKE GROUP, L.L.C., currently with $161.38 million in SOFI stock with ownership of nearly 0% of the company’s market capitalization.

Positions in SoFi Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 263 institutional holders increased their position in SoFi Technologies Inc. [NASDAQ:SOFI] by around 80,469,817 shares. Additionally, 200 investors decreased positions by around 63,708,773 shares, while 88 investors held positions by with 253,653,363 shares. The mentioned changes placed institutional holdings at 397,831,953 shares, according to the latest SEC report filing. SOFI stock had 100 new institutional investments in for a total of 26,034,533 shares, while 83 institutional investors sold positions of 12,836,222 shares during the same period.


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