Compass Point Initiates Coverage of SoFi Technologies With Sell Recommendation

Fintel reports that on June 23, 2023, Compass Point initiated coverage of SoFi Technologies (NASDAQ:SOFI) with a Sell recommendation.

Analyst Price Forecast Suggests 10.45% Downside

As of June 2, 2023, the average one-year price target for SoFi Technologies is 7.41. The forecasts range from a low of 3.03 to a high of $10.50. The average price target represents a decrease of 10.45% from its latest reported closing price of 8.28.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for SoFi Technologies is 2,083MM, an increase of 25.06%. The projected annual non-GAAP EPS is -0.26.

What is the Fund Sentiment?

There are 696 funds or institutions reporting positions in SoFi Technologies. This is an increase of 18 owner(s) or 2.65% in the last quarter. Average portfolio weight of all funds dedicated to SOFI is 0.15%, a decrease of 26.04%. Total shares owned by institutions decreased in the last three months by 8.45% to 319,691K shares. The put/call ratio of SOFI is 0.68, indicating a bullish outlook.

What are Other Shareholders Doing?

Silver Lake Group, L.L.C. holds 31,154K shares representing 3.31% ownership of the company. No change in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 23,056K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 22,473K shares, representing an increase of 2.53%. The firm increased its portfolio allocation in SOFI by 24.74% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 19,554K shares representing 2.08% ownership of the company. In it’s prior filing, the firm reported owning 19,125K shares, representing an increase of 2.19%. The firm increased its portfolio allocation in SOFI by 29.21% over the last quarter.

Geode Capital Management holds 12,052K shares representing 1.28% ownership of the company. In it’s prior filing, the firm reported owning 11,567K shares, representing an increase of 4.02%. The firm increased its portfolio allocation in SOFI by 26.94% over the last quarter.

VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 11,433K shares representing 1.22% ownership of the company. In it’s prior filing, the firm reported owning 11,205K shares, representing an increase of 2.00%. The firm increased its portfolio allocation in SOFI by 26.96% over the last quarter.

SoFi Technologies Background Information
(This description is provided by the company.)

SoFi Technologies, Inc. operates as a financial technology company. The Company offers financial services platform for borrowing, saving, spending, and investing. SoFi Technologies serves customers in the United States.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ? TRANSITION REPORT PURSUA

This article originally appeared on Fintel