KBW Issues a Hold Rating on SoFi Technologies (SOFI)

In a report released on May 10, Michael Perito from KBW assigned a Hold rating to SoFi Technologies (SOFI – Research Report), with a price target of $7.50. The company’s shares closed last Friday at $6.94.

According to TipRanks, Perito is a 5-star analyst with an average return of 12.8% and a 61.37% success rate. Perito covers the Financial sector, focusing on stocks such as Provident Financial Services, SoFi Technologies, and Newtek Business.

Currently, the analyst consensus on SoFi Technologies is a Hold with an average price target of $9.21, a 32.71% upside from current levels. In a report released on April 30, Barclays also assigned a Hold rating to the stock with a $10.00 price target.

Based on SoFi Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $645 million and a net profit of $88.04 million. In comparison, last year the company earned a revenue of $472.16 million and had a GAAP net loss of $34.42 million

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SOFI in relation to earlier this year.

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SoFi Technologies (SOFI) Company Description:

SoFi Technologies is an online personal finance and bank holding company. It offers lending and financial services products, including student, home, and personal loans. It also provides technology products and solutions. SoFi closed a bank merger and became a bank holding company in 2022.