SoFi Stock Forecast: SOFI Rises, Overall outlook remains Marginally Positive

SoFi Stock Forecast: Short term recommendation is BUY for the stock

2 analysts

SOFI Stock Forecast: Latest Price

Share Volume 17.43 M
Forward P/E (1 Year) -14.68

SOFI Stock Forecast: Acquisition of Technisys by SoFi Technologies

SoFi Technologies announced the acquisition of Technisys – a cloud-banking company specialized in producing banking software. SoFi has agreed to buy Technisys for an amount of $1.1B, the payment for which will be done by issuing around 84M new shares of SoFi to the stakeholders of the acquired company. It would lead to a reduction in the number of shares held by the existing shareholders of SoFi’s stock than before the acquisition.

Post-acquisition Technisys would continue to run as an independent subsidiary of SoFi with present CEO Miguel Santos continuing to guide the company. Following the deal, Anthony Noto, CEO of SoFi, quoted the acquisition of Technisys to be an essential building block in delivering on their member-centric, digital one-stop-shop experience for SoFi members and their fintech cloud services partners through Galileo.

SOFI Stock Forecast: Latest Video

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SOFI Stock Forecast: Momentum summary

Indicator Trend
Overall Marginally Positive
1. Market Data Neutral
1a. Price Higher
1b. Trading Volume Lower
1c. Performance vs NASDAQ (5 Days) Lower
1d. Technical indicator Buy
2. Crowd’s Wisdom Marginally Positive
2a. Google Search Trend Higher
2b. Net Sentiment Steady

SOFI Stock Forecast: Competition Analysis

Stock Name Performance in last 6 months Performance in last 1 month Zacks Ratings Price Target for 12 months Zacks Industry Rank
SoFi -41.98% +15.83% 3-Hold $8.58 Top 36%
Synchrony Financial (SYF) -21.34% +12.5% 3-Hold $42.05 Bottom 23%
Lufax (LU) +9.05% -22.13% 5-Strong Sell $8.25 Bottom 23%
UPST -73.93% -30.9% 3-Hold $31.29 Top 35%

SOFI Stock Forecast: Technical Analysis

SOFI Stock Forecast: CrowdWisdom360-Insights

  • Sofi has presented a new feature to investors. This feature will enable them to invest directly into cryptocurrency without any fee. According to the CEO, Anthony Noto it will become much easier for the members to manage their investments.
  • Sofi acquired Firm Technisys for nearly $1 billion. This is a power move to generate revenue for So-fi as well as provide financial services to their users like opening accounts, lending and credit cards.
  • Sofi presently has a market capitalization of almost $7 billion. The acquisition of technosys by Sofi is estimated to be worth $1.1 billion. Because the corporation is funding the entire transaction with shares, shareholders’ stock will be diluted.
  • According to Business Wire, SoFi has recently added a feature in their credit card purchases. SoFi checking and savings members with direct deposits can now start earning 3% cashback on all SoFi credit card purchases for an entire year.
  • Piper Sandler has given Sofi an overweight rating. The rating was previously neutral. At the same time they have also cut their price target from $12 to $10 on the stock. Kevin Barker from Piper Sandler said that, “the market is over-discounting Sofi’s growth potential.”
  • CEO Anthony Noto has been buying Sofi shares frequently since March. He completed total 5 trades in March. The CEO now owns a total of $3.2 million shares.
  • Sofi will hold their Annual Stockholders Meeting on July 12th 2022, 1 PM ET. Please click here for further details and registration.
  • The short-term recommendation is to sell this stock.

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Read: Best EV stocks to buy in 2022

SOFI Stock Latest News and Tweets

SoFi Stock Forecast 2022

SOFI Stock Forecast: Google Trends

Search Trend for SOFI is higher compared to 24 hours ago.

SOFI Stock Recommendation: Sofi Stock buy or sell ?

Sofi had a strong quarterly report, as the revenue and earnings beat the estimates. Adjusted net revenue climbed by 54% year over year to $280 million. And adjusted EBITDA is $5 million, representing the sixth quarter in a row with a positive adjusted EBITDA. Annual adjusted EBITDA was $30 million, representing the company’s first year of positive annual adjusted EBITDA. 

SoFi added 523 thousand new members in the fourth quarter. This is a new high for the company, which currently has over 3 million users. Sofi recently said, in the current quarter more than one-third of new products were adopted by existing customers. this is a very healthy sign. The company’s growth looks impressive and also Galileo, which is a technology-based business model for SoFi, is expanding in different countries.

However, Morgan Stanley has downgraded the rating of the stock and the stock has lost almost 40% of its market price in last 6 months. With recent developments, there is some recovery shown but it is time before the stock bounces back.

At this price, for a trader, the recommendation is to sell the stock. For investors, hold the position and take a call in the next couple of weeks.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

-Rakesh Atla

SoFi Stock Forecast

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