Needham analyst Kyle Peterson reiterated a Buy rating on SoFi Technologies today and set a price target of $25.00.
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Kyle Peterson has given his Buy rating due to a combination of factors that highlight SoFi Technologies’ strong performance and strategic financial maneuvers. The company’s second-quarter results surpassed both his and the market’s expectations, driven primarily by robust growth in its loan platform business. This growth is supported by a solid demand for private credit, which continues to accelerate.
Furthermore, SoFi’s recent capital raise of approximately $1.5 billion through a secondary stock offering has significantly bolstered its total risk-based capital, enhancing its appeal to institutional investors. The strategic pricing of this offering further instills confidence in SoFi’s ability to meet or exceed its earnings per share target for 2026. As a result, Peterson has increased his financial estimates for the company, reaffirming his Buy rating.