SoFi Technologies Stock Surges: Current Price and Analyst Forecasts

As of November 11, 2024, the stock price of SoFi Technologies (SOFI) has seen a significant uptick. The current share price stands at $13.01, representing a 9.33% increase from the previous close.

The recent surge in SoFi Technologies’ stock can be attributed to several positive factors, including the company’s strong quarterly earnings results. SoFi Technologies reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm also saw a 29.8% increase in revenue compared to the same quarter last year, with total revenue of $697.10 million.

Analysts have been revising their price targets for SoFi Technologies. Jefferies Financial Group lifted their price target from $12.00 to $13.00 and maintained a “buy” rating. Similarly, Goldman Sachs Group upped their price target from $7.50 to $8.50, although they maintained a “neutral” rating.

Technical analysis indicates a strongly bullish trend for SoFi Technologies. The stock price is above its 5, 20, and 50-day exponential moving averages, suggesting buying pressure. The Relative Strength Index (RSI) is at 65.39, which may indicate that the stock is overbought, but other indicators such as the Moving Average Convergence Divergence (MACD) and Bollinger Bands suggest a “buy” signal.

Looking ahead, the average twelve-month price target from 12 Wall Street analysts is $9.32, with a high forecast of $13.00 and a low of $3.00. However, current prices are already above these averages, reflecting the recent positive momentum.