SoFi Technologies (SOFI) stock has rallied 189% over the past year and 37% so far in 2025. Despite the strong run, the stock was downgraded today by Citizens JMP Top analyst Devin Ryan, who lowered his rating from Market Outperform (Buy) to Market Perform (Neutral). He also removed his earlier price target of $17. While Ryan praised SoFi’s solid progress and long-term outlook, he believes the recent rally already reflects much of the good news.
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Ryan ranks 7 out of more than 9,800 analysts on TipRanks. He has a success rate of 71%, with an average return per rating of 32.90% over a one-year period.
Analyst Sees Strong Execution, but Limited Upside
Ryan initiated coverage on SoFi in April, when the stock traded near $12. At that time, he felt the market was not fully recognizing SoFi’s growth story. He liked the company’s modern tech setup, strong member growth, and full control of its operations through its banking license. He also noted that SoFi had recently become profitable, giving the company more flexibility to grow without needing outside funding.
Another reason for his earlier bullish view was the expected launch of new products, especially a move into the crypto space. These updates have boosted investor interest in recent weeks.
However, with the stock now much higher, Ryan believes most of the upside has already been priced in. While he still sees SoFi as a well-run business with a strong plan for the future, he no longer finds the current price attractive enough to keep a bullish stance.
Is SOFI a Good Stock to Buy?
Overall, Wall Street has a Moderate Buy consensus rating on SoFi Technologies stock based on seven Buys, five Holds, and two Sell recommendations. The average SOFI stock price target of $16.50 indicates a 22.17% downside risk from current levels.
