Where Do Analysts Stand on SoFi Stock After Q1 Earnings?

SoFi (SOFI) stock was a hot topic among Wall Street analysts on Thursday as they weighed in on the financial firm following its most recent earnings report. Unfortunately, analysts were mixed on the company’s performance despite adjusted earnings per share matching estimates and revenue surpassing them. This was largely due to lackluster guidance.

SoFi Stock Was Plagued By Analyst Price Target Cuts

One thing investors will note about the updated analyst coverage of SoFi stock today was the price target cuts. Even among bullish analysts, such as Needham’s Kyle Peterson and Stephens’ Kyle Joseph, SOFI stock saw its price target reduced. Analysts with Neutral and Sell ratings for SOFI stock also reduced their price targets for the shares.

What About the Best Analysts Covering SoFi Stock?

Diving into where the best analysts covering SoFi stock stand, traders will get a mix of opinions.

Morgan Stanley’s Jeffrey Adelson is the most accurate of analysts covering SOFI stock over the past three months. He assigned the stock a Sell rating today and lowered his price target for the shares from $18 to $16. His success rate is 61.54%, though his average return is negative 6.05% per trade.

Turning to the most profitable analysts covering SoFi stock, Kyle Peterson stands out as the top-performing analyst over the past three months. Peterson rates SOFI stock a Buy and lowered his price target to $25 from $33, suggesting a possible 54.42% upside for the shares. He has a 58.33% success rate with an average return of 17.77% per trade.

How Has SoFi Stock Reacted to Today’s Analyst Updates?

SoFi stock was up 3.77% on Thursday but was still down 38.46% year-to-date. Despite that drop, traders will note that SOFI stock was still up 24.1% over the past 12 months.

SOFI stock’s trading activity today saw some 46 million shares change hands, compared to a three-month average daily trading volume of about 61.09 million shares.