SoFi Technologies price target lowered to $17 from $20 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on SoFi Technologies (SOFI) to $17 from $20 and keeps a Neutral rating on the shares. Shares underperformed after Q1 results as a below-consensus outlook and lack of upward guidance revisions offset solid origination strength, particularly in student loans driven by elevated marketing activity, the analyst tells investors in a research note. The quarter also highlighted an unfavorable shift in business mix toward more capital-intensive lending, while higher-quality fee-based segments such as the technology platform declined sequentially, reinforcing concerns about profitability and limited near-term diversification into capital-light revenue streams, the firm says.