Truist Analyst Maintains Cautious Stance on SoFi Despite Strong Growth
SoFi Technologies (SOFI) has surged 84% year-to-date, fueled by robust revenue and earnings growth. The fintech's expanding member base and innovative product launches continue to drive performance, particularly in its capital-light Loan Platform Business, which saw fee-based revenue jump 50% in Q3.
Truist analyst Matthew Coad remains wary, trimming his price target to $28 from $31 while retaining a Hold rating. His revised estimates reflect concerns about tougher comparisons ahead, anticipating a slowdown in SOFI's Loan Platform Business growth through 2027. The adjustment underscores the challenge of sustaining outsized gains in fintech's volatile landscape.