SoFi Stock Price Prediction: 13% Upside Ahead of Earnings

An analyst at 24/7 Wall St. predicts that SoFi Technologies (NASDAQ:SOFI) stock could rise 13% from its current price, reaching the set price target. This optimism comes despite the stock's 30.33% year-to-date decline, ahead of the Q2 earnings report on July 29.

Recommendation Change

The analyst did not explicitly change the recommendation, but the higher price target implies a buy or hold rating.

Analyst Rationale

The analyst believes the setup into the earnings report is more constructive than the recent selloff suggests. SoFi has posted its 18th consecutive quarter of achieving the Rule of 40, which combines revenue growth and profitability, indicating strong operational performance despite the stock's weakness.

Context

SoFi stock has fallen over 30% year-to-date, pressured by broader tech and growth stock selloffs. However, the company continues to show strong revenue growth and improving profitability. No other analysts have yet commented on the new outlook.

Conclusion

The stock remains under selling pressure, but strong fundamentals may support a recovery. Investors are watching the July 29 earnings for clearer signals on the company's trajectory.