SoFi Technologies (SOFI) rose nearly 6% on Monday, quietly extending a three-month rally that has reignited investor interest. The bullish move comes as the stock forms a “golden cross”—a closely watched technical indicator that occurs when the 50-day moving average crosses above the 200-day moving average, often signaling long-term upward momentum. This is notable because the last time SoFi formed a golden cross, the stock went on to rally more than 140%. Monday’s gain added fresh steam, helping SoFi claw back some ground after a rocky start to 2025. While shares remain down about 3% year-to-date, the technical breakout has brought SoFi back onto the radar of retail traders and technical analysts alike.
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Earnings Results Spark Renewed Interest
The recent rally can be traced back to SoFi’s strong first-quarter earnings report. The company posted record revenue of $772 million, beating Wall Street’s forecast of $738.98 million and marking a 20% increase from the same quarter last year. Fee-based revenue came in at a record $315 million, up 67% from a year earlier.
Meanwhile, adjusted earnings per share stood at 6 cents, which easily beat Wall Street’s estimate of 3 cents, and surged 200% year-over-year.
Investors have responded positively to SoFi’s consistent growth across lending, banking, and wealth management, the three pillars of its expanding fintech ecosystem.
Analyst Coverage Adds to Bullish Tone
Adding to the optimism, brokerage firm Stephens recently initiated coverage on SoFi stock with a Buy rating. Analyst Kyle Joseph set a $20 price target, implying a potential upside of over 34%. He pointed out that SoFi’s wide range of services and its “productivity loop,” where users try one product and then sign up for more, could help the company grow steadily over time.
He believes strong growth in members and products, along with rising fee income and better efficiency, will continue to support SOFI’s valuation. His upbeat outlook aligns with the sentiment of many investors, especially retail traders who are still optimistic about SoFi’s long-term growth potential.
Is SOFI Stock a Buy, Hold, or Sell?
To summarize, Wall Street has a Hold consensus rating on SoFi stock technologies based on six Buys, three Holds, and one Sell recommendation. The average SOFI stock price target of $15.69 implies a limited upside potential of about 5.3% from current levels.
