SoFi Technologies price target raised to $27 from $24 at Goldman Sachs

Goldman Sachs analyst Michael Ng raised the firm’s price target on SoFi Technologies (SOFI) to $27 from $24 and keeps a Neutral rating on the shares. SoFi shares rallied after a strong beat-and-raise quarter marked by record originations, robust Loan Platform growth, and accelerating member gains, the analyst tells investors in a research note. Results were driven by faster-than-expected balance sheet expansion, supported by summer capital raises and favorable private-market funding conditions. While credit trends in recent securitizations warrant monitoring, lower funding costs and stable capital markets position the company for potential net interest margin expansion and further estimate increases, Goldman says.