SoFi ( (SOFI) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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SoFi Technologies has been under pressure in recent weeks, with the stock down about 38% year-to-date amid a short-seller attack and fresh analyst downgrades. Muddy Waters accused SoFi of being a “financial engineering treadmill,” alleging accounting issues and calling for over $312 million of loans to be restated, fueling questions around the strength of its balance sheet and loan book.
Despite launching its Big Business Banking platform with 24/7 fiat and crypto services, the new product has not yet changed sentiment meaningfully. Keefe Bruyette cut its SoFi price target to $17 and kept an Underperform rating, flagging deteriorating credit metrics in securitizations and potential Q1 earnings pressure from fair-value marks.
Wells Fargo also lowered its SoFi price target to $18 while maintaining an Equal Weight view, warning that investor fears around AI-driven job losses could weigh on the stock even as consumer credit and card spending hold up. At the same time, SoFi is trying to deepen its brand with younger customers via its new Future Wealth Summit, a financial literacy campus tour at more than 30 universities during April.
Wall Street remains cautious overall, with SoFi carrying a Hold consensus rating based on a mix of Buys, Holds, and Sells. Yet the average analyst price target of $23.88 still implies roughly 46% upside from current levels, leaving the stock caught between mounting short-term risks and expectations for longer-term growth in its lending, tech platform, and financial services businesses.